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3.4/ 5
Our score
Fair
Card issuance fee
Free
Max cashback
4%
Top-up networks
Plasma
Card network
Visa
What is Plasma One?
Plasma One combines a self-custody stablecoin account with a Visa card for spending, sending and earning. The card is issued by Rain, a Visa Principal Member, and the account is built on the Plasma chain. Its three tiers pay up to 4% base cashback, while the highest advertised AI cashback rate is 10%.
Who is behind it
Plasma One is a product of Plasma, headquartered in London. Plasma announced a strategic investment from Founders Fund on May 22, 2025, and says Peter Thiel was one of its earliest angel investors. Bridge powers the global account services, while Rain issues the card under a Visa licence. Plasma also announced a partnership with Stripe on October 15, 2026, starting with co-developed multi-currency cards.
How the account works
The balance backing the card remains owned and custodied by the user. Plasma says it does not custody user assets. Users deposit stablecoins, access USD, send and receive stablecoins, and spend through a Visa card. Stablecoin transfers cost $0. The app also includes Earn, a technology interface for accessing third-party decentralised finance protocols through third-party vault providers. Plasma One is available on Android.
Lite pays 2% base cashback and includes one free virtual card. Core pays 3% base cashback, plus 5% on eligible AI spending, and includes up to two free virtual cards. Platinum pays 4% base cashback, plus 10% on AI spending, with up to three free virtual cards. Cashback is paid in XPL. The product page also advertises balance yield of up to 6%.
Fees and membership
Lite has a $0 card cost. Core costs $199 per year or requires locking 20,000 XPL for 12 months. Platinum requires locking 100,000 XPL for 12 months. Platinum has no added foreign-exchange fees because Plasma covers the Visa FX fee. The tier also includes up to $600 per year in flight cashback. Core and Platinum therefore tie the highest rewards and benefits to a subscription or an XPL lock-up.
Availability and track record
The Visa card is advertised in 180+ countries, wherever Visa cards are accepted. Plasma One became available on Android in July 2026. A Rewards Addendum covering cashback and referrals was published on September 26, 2026. The card's self-custody model reduces direct custody by Plasma, while Rain, Bridge and third-party vault providers remain part of the service structure. Cashback paid in XPL adds token-price exposure, while locked XPL creates an exit restriction. Country access and Visa acceptance can still affect card use.
Best for:Stablecoin everyday spendingAI subscription paymentsPlatinum travel spendingUsers seeking self-custody
Pros and cons
Pros
- Self-custody model keeps the card-backing balance with the user
- Rain is a Visa Principal Member and issues the card
- Stablecoin transfers cost $0
- Lite has a $0 card cost and 2% base cashback
- Platinum covers the Visa foreign-exchange fee
- Card availability is advertised in 180+ countries
Cons
- Cashback is paid in XPL, exposing rewards to token-price changes
- Core requires $199 yearly or locking 20,000 XPL for 12 months
- Platinum requires locking 100,000 XPL for 12 months
- Card use depends on Rain, Bridge and Visa
- Earn exposes users to third-party DeFi protocols and vault providers
Our review
3.4/5
Fair
Plasma One combines self-custodied stablecoin spending with high advertised cashback, but its best rates require costly memberships or a volatile XPL lock.
Plasma One combines a stablecoin account with a Visa card issued by Rain, a Visa Principal Member, while Bridge powers the global account services. Plasma says users retain control of the stablecoin balance that backs the card. That reduces dependence on a card company holding the funds, but card access can still depend on Rain and Bridge.
The free Lite tier has a $0 card cost and 2% base cashback. Core advertises 3% base cashback, while Platinum advertises 4%, with rates paid in XPL. Core costs $199 a year or requires a 12-month lock of 20,000 XPL. Platinum requires a 12-month lock of 100,000 XPL. The headline rewards therefore carry a material token-price and liquidity trade-off. Core's AI cashback is advertised at 5%, and Platinum's at 10%; the Core rate is capped at $500 per month. Platinum also covers its Visa foreign-exchange fee and offers up to $600 a year in flight cashback.
Stablecoin transfers cost $0, Lite has a stated $0 card cost, and Platinum has no added fees with the FX fee covered.
Availability reaches 180+ countries where Visa cards are accepted, and the Android app became available in July 2026. The product offers and adds balance earning of up to 6%, but Earn provides access to third-party decentralised finance protocols through third-party vault providers, adding protocol and provider risk.
Plasma announced a strategic investment from Founders Fund in May 2025 and says Peter Thiel was an early angel investor. Self-custody, XPL-denominated rewards and third-party yield are the main risks.
Fees & limits
| Card type | Debit · unverified |
|---|---|
| Card network | Visa |
| Card format | Virtual · unverified |
| Custody | Self-custodial |
| Max cashback ⓘ | 4% · unverified |
| Rewards paid in | XPL · unverified |
| Staking needed for top rewards | Yes · unverified |
| Card issuance fee | Free · unverified |
| Annual fee | $199 · unverified |
| Available in | Global · unverified |
| Spendable assets | Stablecoins · unverified |
| Top-up networks | Plasma · unverified |
| Card currencies | USD · unverified |
| Spend stablecoins | Yes · unverified |
| Good for | Everyday spending, Travel, Online shopping, Subscriptions & AI tools · unverified |
| Perks | AI subscriptions, Flight cashback, Priority support, VIP support · unverified |
| Card issuer | Rain · unverified |
| Virtual card fee | Free · unverified |
| Referral program | Yes · unverified |
Not disclosed by the provider: KYC required, Business card, Welcome bonus, Monthly fee, Foreign exchange fee, Top-up fee, Crypto conversion spread, ATM withdrawals, Daily spending limit, ATM withdrawal limit, Not available in, Apple Pay, Google Pay.
Data from the provider's website and public sources. Fees and availability change; confirm on the official site before you sign up.
Key features
Self-custody balance
The stablecoin balance backing the card remains owned and custodied by the user rather than Plasma.
Visa card spending
Rain issues the Visa card, which Plasma advertises for use in 180+ countries wherever Visa cards are accepted.
Three card tiers
Lite, Core and Platinum offer 2%, 3% and 4% base cashback rates respectively, subject to their terms.
AI spending rewards
Core advertises 5% AI cashback, while Platinum advertises 10% on eligible AI spending.
Stablecoin transfers
Users can deposit, send and receive stablecoins, with transfers priced at $0.
Earn access
The app provides an interface to third-party DeFi protocols through third-party vault providers.
Virtual cards
Lite includes one free virtual card, Core offers up to two, and Platinum offers up to three.
Travel benefits
Platinum includes up to $600 per year in flight cashback and covers its Visa foreign-exchange fee.
Inside Plasma One
Lite
The free card tier has 2% base cashback, standard fees, standard support and one free virtual card.
Core
The Core tier advertises 3% base cashback and 5% AI cashback, plus a ChatGPT Go subscription, reduced fees, priority support and up to two free virtual cards.
Platinum
The Platinum tier advertises 4% base cashback and 10% AI cashback, with Claude Pro and ChatGPT Plus, up to $600 a year in flight cashback, covered Visa FX fees, VIP support and up to three free virtual cards.
Earn
Earn provides access to third-party decentralised finance protocols through third-party vault providers. Plasma advertises balance yield of up to 6%.
Plasma One screenshots
What users say about Plasma One
Praise clearly outweighs complaints, with users citing rewards, a smooth app experience, reliable payments, and responsive support. The main complaints concern locked funds, access failures, and verification issues.
Top goods
In their own words
“Best customer support of any stablecoin card I’ve used I’ve used several stablecoin cards, and Plasma One has the best support by far. My name was split incorrectly by the system. A human agent checked my passport and updated the account.”
“Best Crypto Card UX I’ve been using Plasma One for 3 months now. Zero issues with transacting and great perks. Onboarding and KYC was frictionless, which is the most important in terms of crypto product as a retail user and Plasma nails this.”
“Low efficient and low effective companies with un-responsible workers MY FUNDS HAVE BEEN LOCKED FOR 2 MONTHS! IT IS RIDICULOUS!!!!! Everybody, please don’t use this app anymore. They can lock your funds if they want.”
“A Scam-Like Platform with ZERO Human Support and Broken Address Verification! This is an extremely frustrating and suspicious experience. I accidentally submitted a wrong initial address, but later uploaded my OFFICIAL and ACCURATE proof of address document to correct it.”
“cannot login now cannot login by email since i update the app to v1.11.0”
Based on 46 App Store reviews, 4 Reddit posts and comments from the last 12 months, checked Oct 18, 2026. These are posts by users on other sites, not reviews submitted on CryptoReview.
User reviews
No user reviews yet. Have you used Plasma One? Share your experience below.
Funding and investors
1Round
1Investor
-
Strategic May 2025 Amount undisclosedSource
FAQ
How much does Plasma One cost?
The Lite card has a $0 card cost, while Core costs $199 per year or requires locking 20,000 XPL for 12 months. Platinum requires locking 100,000 XPL for 12 months, and stablecoin transfers cost $0.
Where is Plasma One available?
Plasma One advertises Visa card availability in 180+ countries where Visa cards are accepted. The Android app became available in July 2026.
Is Plasma One self-custodial?
Yes, Plasma One is self-custodial, and Plasma says it does not custody the stablecoin balance backing the card. Rain issues the Visa card, while Bridge powers the global account services.
What blockchain and token does Plasma One use?
Plasma One is built on the Plasma chain and pays cashback in XPL, the Plasma token. The product supports stablecoin deposits and spending through its stablecoin account.
How much cashback does Plasma One pay?
The advertised base cashback is 2% on Lite, 3% on Core and 4% on Platinum, paid in XPL. Core advertises 5% AI cashback capped at $500 per month, while Platinum advertises 10% AI cashback.
Latest from Plasma One on X
Get paid with @deel, spend with Plasma.
$100M moved. https://t.co/2rJg9zj772
iPhone Duo pre-orders are here.
Platinum members get 10% back on their purchase. https://t.co/ODKSyuTOUl
Platinum members get 10% back on their purchase. https://t.co/ODKSyuTOUl
Plasma and @Stripe are partnering to bring a new generation of products to market.
Our co-development of multi-currency cards is the first step in realizing this vision. https://t.co/FXkXXSK6UQ
Our co-development of multi-currency cards is the first step in realizing this vision. https://t.co/FXkXXSK6UQ
Recent public posts from @Plasma, shown as published. Not reviewed or endorsed by CryptoReview.
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