Stablecoins are already a better way to move and hold value. What’s missing are products that make them usable in everyday life, without users needing to understand any of the infrastructure underneath.
@Plasma One is where the solution came from. It’s the ecosystem first and flagship product, and it’s the forcing function for everything else they do. Plasma prioritize protocol work, integrations, and compliance, which became successful with Plasma One in mind, because building the product forces the platform to meet real world requirements. The result compounds across the ecosystem, the same rails, primitives, and reliability upgrades power every product built on Plasma.
Plasma Internal rollout
Plasma One is now live internally and being used daily across the team, and across the world. The goal of this phase is to pressure test the core flows in real conditions, surface edge cases quickly, and iterate aggressively.
Plasma Internal beta snapshot
>30 active internal users across 15 nationalities
~100 daily transactions
~$10k daily spend volume
The main areas #Plasma focused on right now are
Reliable onboarding across a wide set of user profiles and geographies, driving time to onboard down to minutes while keeping users success rates higher-end
Extremely reliable card spend across real world scenarios, including authorizations, declines, and recovery paths, since failed transactions break trust immediately and drive churn
Plasma Payments backend and rails
The hardest part of making Plasma One work at scale is connecting a self custodial stablecoin account to the payment rails people use every day. Every team building around stablecoins runs into the same constraint. We’re investing heavily in the payments infrastructure to solve it not only for @Plasma One, but as a broader stack that merchants, fintechs, and builders can rely on for stablecoin settlement.
Most stablecoin neobanks today are thin wrappers on one or two providers. They inherit the limits that come with that: coverage gaps, fragile reliability, poor economics, and slow iteration.
Plasma is taking the opposite approach. They are building a modular aggregator across the best crypto, payments, banking partners and internal infrastructure so it can optimize fees, coverage, settlement times, and reliability market by market, without rebuilding the product each time.
#Plasma already announced one card issuing partner, Rain, and one orchestration partner, Bridge. They are now onboarding an additional issuing partner and two more orchestration partners. Over time we’ll make deliberate regional additions, combining global breadth through large partners with regional depth through specialized ones. PLASMA infrastructure is built for this modularity from day one.
Building this well means doing a lot of hard, unglamorous work. Licenses, regional banking relationships, and infrastructure that works globally. In December plasma onboarding with their first banking partner, submitted an application for a key foundational license, and started work with our legal and compliance team in a major region Plasma also focused on for the initial rollout all of 2026.
PLASMA can’t share details yet until things are finalized. But this work is a critical step in making Plasma One truly global, with the coverage and reliability users expect from a modern bank, and in making the same rails available to external merchants, fintechs, and ecosystem builders over time.
PLASMA teams are getting close to the external private beta of Plasma One and expect to start opening access gradually over the coming weeks.
The hardening of plasma Chain
The first ~2 months post mainnet were about fast follows and fixing what production surfaced. That work is now largely behind us. The codebase is in a more mature place, and PLASMA are intentionally slowed new feature work until the foundation was strong.
What plasma shipped in December
Support for dynamic committee membership
Foundational for validator decentralization and future $XPL staking. Also required for some of the larger payments and tradfi partners they are working with. Plasma ensures to continue this work in Q1 as its expand the validator set.
Plasma Expandation testing and automation
Plasma pushed a testing coverage significantly further. Most issues the ecosystem is encountering now are coming from the upstream execution layer, not their consensus and protocol code. In Q1 plasma vow to go deeper on the execution layer and contribute more actively to Reth.
Plasma P2P networking enhancements
Meaningful progress on scalability and peer discovery. This unlocks anyone being able to run a non validating Plasma node without special treatment or manual whitelisting.
Geographically distributed validators
Well underway and continuing into Q1. Reduces correlated failure risk and improves resilience as the network scales.
Most of this work isn’t directly visible, but it’s what reduces the risk of downtime and incidents. It’s what turns a working chain into institutional grade infrastructure.
In Q1 PLASMA is push the remaining reliability work fully into production and are going deeper on the execution layer. With the foundation now in the right place, plasma will also continue to go deeper on privacy. Privacy is the protocol primitive they are most excited about because it expands what Plasma One, and any wallet, exchange, or payments partner building on Plasma, can safely offer users at scale.
LET'S CONTINUE TO BUILD ONE PLASMA TOGETHER. BUY $XPL TODAY