XPL Crypto Price Surges 70% as Plasma Unveils Stablecoin Banking App

Plasma has officially launched Plasma One, its mobile-focused stablecoin banking application, as the project pushes deeper into consumer crypto payments and token-driven financial services. Amid the rollout, Plasma’s native token XPL is up by roughly 70% over the last 7 days.

Plasma One combines stablecoin banking with token perks

In an announcement, the crypto banking startup disclosed that Plasma One will allow users to save, spend, and earn yield on stablecoins through a mobile app integrated with a Visa card. 

The Peter Thiel-backed crypto firm noted that fragmented infrastructure has slowed down stablecoin adoption, tipping the launch to change the narrative. 

To address the shortcomings, Plasma One will merge blockchain rails, liquidity, and a slew of banking services under one platform.

“Stablecoins will not become part of everyday banking through another app sitting on top of someone’s rails,” said Plasma founder Paul Faecks. “They need a product that brings the entire experience together. 

That is what Plasma One is built to do.The newly minted platform introduces a three-tier membership structure tied directly to XPL holdings and token locks, given the native token's advanced utility. 

Plasma is tipping the new product to roll out with a bang, with the firm pointing to the impressive numbers during its private beta.Back in 2025, Plasma completed a $373 million token sale, earning interest from Founders Fund and other VC heavy hitters. 

The ambitious stablecoin infrastructure product attracted institutional backing for its low-cost payments while being Bitcoin-based and EVM-compatible.

Across the ecosystem, investment in stablecoin projects has surged amid rising market capitalizations. 

Earlier in the week, Ripple announced a sizable investment in Flutterwave to expand stablecoin payments in Africa.

Stablecoin market capitalization growth. Source: DefiLlama

XPL price surges amid product rollout

Given XPL’s increased utility in Plasma One, the native token surged by over 70% on the seven-day chart. At press time, XPL is trading at $0.099 while daily trading volumes have surpassed the $180 million mark amid the Plasma One launch.

Meanwhile, pundits have warned of a potential drawdown by traders selling the news. In the last 24 hours, XPL price has fallen by nearly 10% amid technical rejections at key resistance levels of $0.108 to $0.110.

However, investors have their eyes peeled on whether utility-driven demand from Plasma One can offset profit-taking and upcoming supply shocks.Meanwhile, the broader cryptocurrency market is experiencing a similar drawdown after the U.S. Fed's hawkish tone damped the enthusiasm which followed the US-Iran peace deal.