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

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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 the 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 involving lending or investment, ensuring its auditability. The project offers an integrated solution allowing users to access fiat currency deposits and cross-chain settlements via API, and achieves deep integration of applications and wallets. Mantle states that UR's goal is to develop into a "prototype of an on-chain bank," reconstructing the account layer to be programmable and composable, rather than merely a crypto payment tool. (Source: MLion)
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ChecksumSmile
· 4h ago
The programmable account layer sounds like turning banks into LEGO building blocks.
View OriginalReply0
FloatingTeacupClub
· 4h ago
The team behind Grab is working on payment integration, so their implementation capability should be strong.
View OriginalReply0

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