Mantle's UR On-Chain Bank Targets Asia Market with Traditional Payment Integration on May 15

According to Forbes, UR, a new on-chain banking project launched by Mantle, is exploring integration of traditional payments and DeFi while targeting Asia as a core market on May 15. Founded with input from Neo, a former payments executive who previously led QR code adoption at Alipay and Grab, UR aims to upgrade the digital cash transition model to on-chain finance by enabling law fiat digitalization. The project operates under a Swiss FINMA banking license and adopts a full-reserve banking model, where user deposits in fiat and tokenized on-chain assets maintain a 1:1 correspondence without lending or investment activities, creating an auditable on-chain banking structure.