Plasma One
Stablecoin-first neobank card built around the Plasma chain's zero-fee USDT transfers.
4.0% risk-adjusted · Custodial
Bleap review
Self-custodial MPC wallet and card with no FX markup and stablecoin cashback.
Headline cashback
2%
Risk-adjusted rate
2.0%
Custody
Self-custodial
Incidents on record
0
Full fee table
- Cashback
- Around 1–2% in USDC
- Reward paid in
- USDC (stablecoin)
- FX fee
- 0.00% — 0% FX markup on supported currencies
- Monthly fee
- Free
- Issuance fee
- Free
- ATM policy
- ATM withdrawals with a monthly free allowance
- Lock requirement
- None
- Funding assets
- USDC, EURe
- Chains
- Ethereum, Base, Polygon, Arbitrum
- Regions
- EEA and UK
- Network
- Mastercard
- Verified
- 2026-08
How we discount token rewards
We do not take a headline cashback percentage at face value when the reward is paid in a token rather than cash or a stablecoin, because that reward is a variable subsidy the issuer can reprice or that can simply lose value against the dollar. The worked math for Bleap:
- 1. Headline cashback: 2%
- 2. Reward risk class: stablecoin → haircut multiplier 1.00 (stablecoin/fiat = 1.00, mixed = 0.70, native-token = 0.40)
- 3. Risk-adjusted rate = 2% × 1.00 = 2.00%
- 4. On $1,000 of monthly spend that is $20.00 of durable value, versus $20.00 of headline value that assumes the token reward never depreciates.
The 0.40 and 0.70 multipliers are deliberately conservative judgement calls, not a market-derived number — treat them as a floor on how much of the headline rate to trust, not a precise forecast.
Incident history and issuer risk
No publicly reported incidents on record as of 2026-08.
MPC key model means no custodial balance, but recovery depends on the provider's key infrastructure remaining online.
Alternatives
Binance Card
Spends directly from a Binance spot wallet, cashback scaled by BNB holdings.
3.2% risk-adjusted · Custodial
Bleap, answered
+ − Is the Bleap headline rate the rate I will actually get?
Only if the reward is paid in stablecoins or fiat. Any reward paid in the issuer's own token is a subsidy that can be repriced or lose value, so the honest number is the risk-adjusted rate, not the headline one.
+ − What happens if Bleap's issuer runs into trouble?
Read the custody model: a custodial card's balance sits on the issuer's books and is exposed to issuer insolvency; a self-custodial card removes that risk but adds smart-contract and key-recovery risk instead.
Visit Bleap · Back to all cards
Informational only, not financial advice. Terms, fees and availability change frequently — always verify on the provider's own site before committing funds. Some outbound links may be partner links; they never affect ranking or scoring.