Overview
Plasma One is the consumer card from the team behind the Plasma stablecoin chain, designed for people who hold and spend dollar-denominated stablecoins. The card is issued by Rain (a Visa principal member) and accepted everywhere Visa is. You keep your USDT, USDC, or USDS in your own on-device wallet — Plasma One is non-custodial — and every transaction settles via the Plasma network. The card pays tiered cashback in XPL, the chain's native token — 2% on Lite, 3% on Core and 4% on Platinum — and your idle stablecoin balance earns up to ~3.6% APY.
Who Plasma One is best for
Plasma One is best for stablecoin-native users who want a simple, low-fee way to spend USDT or USDC globally without converting to bank balances. If you're already holding stablecoins and want them to earn a yield while still being instantly spendable, it's an excellent fit. Now that Plasma One is out of its invite-only beta, there's no code to wait for — tap the Sign Up button on this page to go straight to the download.
Fees, in detail
FX fees are 0% on USD and EUR transactions and 1% on all other currencies — among the lowest of any crypto card. USD₮ transfers on the Plasma chain are zero-fee, so funding and moving your balance costs nothing. Card pricing is tiered: the Lite tier is free, Core costs $120/yr (or a 1-year lock-up of 10,000 XPL), and Platinum requires a 1-year lock-up of 100,000 XPL. Withdrawal and partner fees are surfaced in-app before you confirm each transaction.
Cashback and rewards
Cashback is paid in XPL, Plasma's native token, and scales by tier: 2% on Lite, 3% on Core and 4% on Platinum. Because cashback is in XPL, the value moves with the broader Plasma ecosystem. The Platinum tier layers premium perks on top of the base rate — it covers Claude Pro and ChatGPT Plus subscriptions, pays up to $600 in airline payback, and returns 10% on AI subscriptions — so heavy AI and travel spenders get the most from the top tier.
Standout features
- Up to 3.6% APY on stablecoin vault balances
- Zero-fee USD₮ transfers on the Plasma chain
- Non-custodial (private keys stay on your device)
- Tiered cashback in XPL: 2% Lite / 3% Core / 4% Platinum
- Platinum perks: Claude Pro & ChatGPT Plus, $600 airline payback, 10% back on AI subscriptions
- Visa acceptance in 150+ countries
- Issued by Rain (Visa principal member)
- Premium physical card available, virtual instant
Pros & cons
Pros
- Tiered cashback up to 4% in XPL (2% Lite / 3% Core / 4% Platinum)
- Platinum covers Claude Pro & ChatGPT Plus, $600 airline payback, 10% back on AI subscriptions
- Stablecoin balances earn yield while sitting on the card
- Truly non-custodial — keys stay on your iPhone
- Zero-fee transfers between Plasma One users
Cons
- iOS-only at launch (Android version listed as coming soon)
- Core and Platinum tiers cost an annual fee or a 1-year XPL lock-up
- Cashback in XPL token, so USD value depends on token market
How to sign up
Tap the Sign Up button on this page — it takes you straight to the Plasma One download page. Install the app and complete the standard KYC to get started. Now that the card is out of beta, there's no invitation code to request.
Frequently asked questions
Do I need an invitation code for Plasma One?
No — not anymore. Plasma One has finished its invite-only beta, so you can download the app and sign up directly. Tap the Sign Up button on this page to go straight to the download.
Is Plasma One available on Android?
Not yet. The official Plasma One page lists Android as 'coming soon.' Today the card is iOS-only.
What yield does Plasma One pay on stablecoin balances?
Up to ~3.6% APY on the connected stablecoin vault, depending on the asset and market conditions. Yield accrues automatically while your balance sits ready to spend.
What's the FX fee on Plasma One?
0% on USD and EUR spending; 1% on all other currencies. USD₮ transfers within the Plasma chain are free.
How much cashback does Plasma One pay?
Cashback is paid in XPL and scales by tier: 2% on Lite, 3% on Core and 4% on Platinum. The Platinum tier also covers Claude Pro and ChatGPT Plus subscriptions, pays up to $600 in airline payback, and returns 10% on AI subscriptions.
Do I have to pay an annual fee?
It depends on your tier. Lite is free. Core costs $120/yr or a 1-year lock-up of 10,000 XPL. Platinum requires a 1-year lock-up of 100,000 XPL and unlocks the premium perks (Claude Pro, ChatGPT Plus, airline payback and 10% back on AI subscriptions).
