Overview

• Users can load a physical or virtual card with stablecoins starting with USDT and pay directly from that balance over Plasma’s blockchain rails.
• The card will be issued by Rain and the app promises fee-free USDT transfers and coverage in roughly 150 countries.
• Plasma advertises over 10% yield on stablecoin balances with no lockup alongside 4% cashback on spending, with yields sourced from its DeFi stack according to the company.
• The rollout follows the project’s stablecoin-optimized layer-1 entering mainnet beta on Sept. 25, with access opening in phases and a waitlist already live.
• Plasma cites backing from figures including Tether CEO Paolo Ardoino and investor Peter Thiel and reports large liquidity and oversubscription figures, though amounts vary across outlets and remain company claims.