New bank UR on Mantle aims at the Asian market, exploring account-level reconstruction from Alipay to DeFi
BlockBeats news, on May 15, Forbes reported that the on-chain new banking project UR, launched by Mantle, is exploring the integration of traditional payment systems with DeFi infrastructure, and regards Asia as its core growth market.
UR was developed with the participation of former payments practitioner Neo. Drawing on his experience promoting QR code payments at Alipay, Grab, and other companies, he aims to evolve the path of "scanning for payments to digitalize cash" into "on-chain banking to digitalize fiat currency."
UR is built under a Swiss FINMA regulatory license and adopts a full-reserve banking model: fiat currency deposited by users is matched 1:1 with on-chain tokenized assets, but no lending or investment activities take place, thereby achieving an auditable on-chain banking structure.
This system allows users to connect to banking account functions through APIs, supporting seamless integration of fiat on-ramps, stablecoin exchanges, and cross-chain settlements. Bank accounts can be embedded within applications and wallets, serving as the infrastructure for "financial super apps."
The Mantle team defines UR as an "on-chain banking prototype," emphasizing that its goal is not simply a crypto payments card or USDC payment tool, but rather to reconstruct the account layer with programmability and composability.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
BoE’s Greene says it is appropriate to proactively tighten our monetary policy stance
CoreWeave plans to issue at least $4 billion in investment-grade loans, falling nearly 6% after hours
According to Bloomberg, CoreWeave is seeking to refinance at least 4 billion USD through an investment-grade loan, led by Morgan Stanley and Mitsubishi UFJ, with a syndication roadshow expected to start as soon as next week. This financing continues the structure of using Nvidia chips and customer contracts as collateral, with the yield on the issuance anticipated to be around 7% to 7.5%, much lower than its junk bond yield. Following the news, CoreWeave's shares fell nearly 5.8% after hours.
Outperformed the S&P by 19.2 percentage points in one month: Berkshire (BRK.B) achieves its highest monthly relative advantage since 2010, second only to the 2008 financial crisis
As the AI trading boom subsides and technology stocks waver, one of the market’s oldest “safe havens” has once again proven its value. Berkshire Hathaway (BRK.B) has just recorded one of its most notable relative gains in over a decade.
Hyperliquid's annualized priority fee revenue reaches $108 million
Crypto prices
More
