ME News Report, May 15 (UTC+8), Forbes reports that Mantle has launched an on-chain new banking project called UR, aiming to integrate traditional payment systems with decentralized finance (DeFi) infrastructure, with Asia as its core market. UR is developed by former payment industry professional Neo, inspired by his experience promoting QR code payments at Alipay and Grab, planning to upgrade the traditional QR code payment model to an on-chain bank to achieve digital fiat currency. The UR project holds a FINMA regulatory license in Switzerland, adopts a full reserve banking model, ensuring that user deposits of fiat currency are matched 1:1 with tokenized assets, without engaging in lending or investment, ensuring its auditability. The project offers an integrated solution allowing users to access fiat currency and perform cross-chain settlements via API, with deep integration of applications and wallets. Mantle states that UR aims to develop into a "prototype of on-chain banking," reconstructing the account layer to be programmable and composable, rather than merely a crypto payment tool. (Source: MLion)

MNT3.24%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

10 Likes

Reward
10
9
3
Share

Comment

Add a comment

LunaCircuit

· 18h ago

If full reserve banking doesn't lend out money, what does the profit model rely on? Is it transaction fees?

View OriginalReply0

GateUser-2100b43b

· 05-23 06:13

FINMA license + full reserve, this setup is considered top-tier in the Asian DeFi circle.

View OriginalReply0

TheHiddenRisksBehindApy

· 05-23 00:47

The reorganization of the programmable account layer is a big statement; see the code for implementation.

View OriginalReply0

RedTelephoneBoothRuins

· 05-23 00:42

Scan-to-pay → On-chain bank, this upgrade path sounds smooth, but the user education cost is not low.

View OriginalReply0

ThinkForThreeSecondsBefore

· 05-23 00:39

Swiss license + Asian market, regulatory arbitrage played out clearly

View OriginalReply0

StopRaisingGasFees.

· 05-23 00:33

1:1 matched tokenized assets, transparent auditing is a good thing, just worried that compliance costs will be passed on to users

View OriginalReply0

GateUser-21ddf7c7

· 05-23 00:29

API deposit/withdraw for fiat currency is crucial; connecting the final mile is the real business.

View OriginalReply0

GlassDomeObservatory

· 05-23 00:25

The on-chain banking prototype's positioning—don't rush to praise it yet. Let's see if someone actually uses it first.

View OriginalReply0

LimeMulti-Signature

· 05-23 00:25

The Mantle ecosystem finally has a viable RWA project.

View OriginalReply0

Trending Topics
View More
#
TradfiTradingChallenge
337.57K Popularity
#
PlatinumCardCreatorExclusive
123.16K Popularity
#
DailyPolymarketHotspot
1.05M Popularity
#
GateSquarePizzaDay
660.9K Popularity
#
SpaceXOfficiallyFilesforIPO
572.49K Popularity

Pinned

Sitemap

Mantle's new on-chain bank UR bets on the Asian market, exploring the account-layer overhaul from "Alipay to DeFi."

Trending Topics

TradfiTradingChallenge

PlatinumCardCreatorExclusive

DailyPolymarketHotspot

GateSquarePizzaDay

SpaceXOfficiallyFilesforIPO

Pinned