UK crypto new bank Plutus raises $2.3 million on the Base chain, plans to launch on-chain loyalty reward token PLUS
UK-based crypto new bank Plutus announced that its PlusMore (RWA/RaaS) project has completed $2.3 million in funding on the Base blockchain to launch an on-chain loyalty reward token PLUS and accelerate the implementation of “crypto payments + real assets” scenarios. The project raised funds through a multi-party launch platform and in-app sales, with the capital to be used for ecosystem development, partner onboarding, and reward system expansion.
Plutus stated that the PLUS token is not merely a points tool but an on-chain asset with multiple practical values. Each PLUS exchanged on Base grants at least $10 worth of on-chain benefits, including brand cashbacks, gift cards, partner discounts, and priority access to Plutus features. This model is seen as a new paradigm combining “RWA and crypto payments,” with the potential to expand Web3’s penetration into real consumer scenarios.
Danial Daychopan, CEO and founder of Plutus, pointed out that the project’s goal is to connect traditional banking systems with Web3 financial services. Through compliant and practical methods, users can gain on-chain value from their everyday card transactions. Jesse Pollak, co-creator of Base, also said that Plutus’s practical reward mechanism deployed on Base provides a replicable example of how blockchain technology can serve the real economy.
The initial funding included a Launchpad plan, but it was canceled due to contract ownership issues. The team instead raised $700,000 through in-app sales to avoid the risk of early token circulation. Plutus emphasized that this move helps maintain token economic stability and ensures the long-term sustainability of the ecosystem.
Founded in 2015, Plutus is a UK-based crypto new bank that early on entered the crypto card payment space. Now, through PlusMore RaaS and the PLUS token, it is promoting “RWA + on-chain loyalty rewards” as a new gateway connecting Web3 with real-world consumption, opening a larger growth channel for crypto financial applications.