Mantle Q3 Live Review: Bank-Level Blockchain

This discussion not only showcased the latest progress of UR but also fully explained how Mantle, through its modular ecosystem, creates a new generation of integrated encryption and TradFi complete stack experience.

Organization: MantleCN

On July 9, 2025, the Mantle team held an in-depth AMA at X focusing on its sixth major innovation pillar - the blockchain-native digital bank UR. This discussion not only showcased the latest developments of UR but also comprehensively explained how Mantle is creating a new generation of integrated encryption and TradFi full-stack experiences through its modular ecosystem.

Mantle Launches the World's First Fully On-Chain Banking App UR, Leading a New Paradigm in Blockchain Banking

The birth of UR stems from the team's profound insight into the existing encryption users' "on-chain assets are difficult to convert for real-world use." There is a serious disconnect between the traditional banking system and the on-chain world, and users often face real obstacles such as high fees, unstable services, and account freezes when paying daily bills or withdrawing fiat currency.

UR's mission is to build a truly usable, composable, and seamlessly connected financial infrastructure between on-chain and off-chain worlds, reshaping the financial experience for encryption users and laying the foundation for a new financial paradigm of "Blockchain for Banking."

addresses the pain points of real-world usability of on-chain assets.

Mantle product leader YZ stated that UR is committed to breaking the divide between on-chain and traditional financial worlds, allowing users to make real payments, savings, and investments using on-chain assets. Users can open a multi-currency account provided by a Swiss licensed financial institution through a simple registration process and obtain a Mastercard debit card, achieving integrated management and use of fiat and stablecoins.

Four Major Infrastructure Pillars: Building Bridges to the Real Financial World

Mantle product head YZ introduced that the design of UR is based on four core principles:

1. Compliance Core: UR has obtained a financial license in Switzerland and has become a member of the Mastercard main card organization, with complete global payment clearing capabilities, ensuring robust, compliant, and secure services.
2. On-chain identity sovereignty: By combining NFT identity with on-chain wallet binding, it provides reliable identity verification for regulation, serving as a "passport" that links on-chain and off-chain.
3. Composable fiat assets: By issuing deposited fiat currencies (such as USD, EUR, etc.) in the form of 1:1 pegged tokenized deposits on-chain, users can freely utilize them in DeFi applications, breaking the limitation of fiat currencies "only existing in banks."
4. Full-path payment capability: UR not only connects to global payment channels but also can operate without relying on the complex transfer channels of traditional banks, allowing users to directly use on-chain assets for consumption, truly bridging the "last mile".

YZ Summary: "This is not only a compliant encryption wallet, but also a financial operating system for the Web3 world."

User Experience Redesign: One-Click Account Opening, Real-Time Deposit, Second-Level Payment

In practical terms, UR offers an extremely simple registration process where users only need two steps to complete account opening and identity verification, and to obtain a Swiss IBAN multi-currency account and a Mastercard debit card.

By supporting USDC deposits through four mainstream networks (Ethereum, Mantle, Base, and Arbitrum), users can immediately exchange it for the equivalent fiat currency, which can be used for offline consumption, bank transfers, or investments, achieving a seamless transition from on-chain assets to real-world financial activities.

As an early user shared: "Traditional new banks only improved the interface experience but failed to escape essential banking issues like settlement delays. UR not only enables 24/7 real-time on-chain asset deposits but also truly addresses the efficiency of fiat settlement."

Bank as Protocol: Redefining the Modular Capability of Banks

Mirana founding partner Yaxi emphasized that the real innovation of UR lies in "protocolizing banking capabilities". The traditional banking system is closed and highly integrated, making it difficult to reuse. In contrast, UR constructs compliance permissions, clearing channels, payment capabilities, and financial services in a modular way, allowing global developers or regional wallets to directly "plug and play" to serve local users.

She pointed out: "In regions like Latin America and Africa, UR can become a 'plug-and-play' banking module, helping to serve hundreds of millions of people who are still not covered by TradFi."

Full Stack Financial Services Closed Loop: From Payment to Investment

UR not only supports consumption and deposit/withdrawal functions but will also integrate Mantle native financial products, including:

• mETH Protocol: As Ethereum's native staking solution, mETH offers high transparency and composability, and has been recognized by Republic Technologies as the first publicly traded company's financial statement to hold liquid staking assets.
• MI4 (Mantle Index Four): An institutional-level encryption asset index fund, currently managing assets exceeding 200 million USD, with Mantle Treasury as the anchor investor and Securitize as the asset tokenization platform.
• Function BTC (FBTC): A Bitcoin alternative asset that is 1:1 pegged to BTC, fully composable, and can be used in DeFi strategies.

Sohan, the head of investment at Mantle, stated that more investment products will be launched in the future, including actively managed funds, tokenized equity (such as Nvidia stocks), and more diverse RWA access solutions. All products will be highly integrated with UR, serving as an entry point for user investments.

Mantle Network: Comprehensive Upgrade of Underlying Infrastructure to Meet Bank-Level Performance Requirements

Brian, the Chief Growth Officer of Mantle Network, stated that Mantle, as the on-chain mainnet of UR, is implementing key technology upgrades to comprehensively enhance its capability to support bank-level application scenarios:

• Collaborating with Succinct SP1 to introduce the ZK validium architecture, reducing transaction confirmation time to approximately 1 hour;
• EigenDA integrated with EigenLayer reduces operating costs for high-frequency trading and payment applications.
• Supports the EIP-7702 smart wallet standard, providing native support for AI-driven transactions and on-chain automated interactions;
• Launching the Lightning Grants rapid funding program to encourage developers to build around modules such as payments, investments, and identity.

Mantle Network still maintains its leading position in TVL, with mETH and Function BTC being its core DeFi pillars.

Looking Ahead: Building a New Paradigm of "Banking-as-a-Platform"

With the public test of UR set to launch in Q3 2025, the Mantle ecosystem will enter the "consumption + storage + investment" fully closed-loop phase, becoming the first truly modular and protocol-driven blockchain ecosystem for banking services, providing global users with a borderless, around-the-clock, on-chain native financial experience.

YZ stated that UR will connect 4 product functions next:

• Support for more fiat currencies (such as RMB, HKD)
• Open more encryption asset recharge paths (such as USDT, other stablecoins)
• Launch one-click on-chain financial management and investment entry
• Support interaction with more CeFi platforms to realize traditional assets / broker access

"We are building a next-generation 'financial super app' that allows every user to manage their assets in a more free and controllable way," Yaxi added.

UR is not just an on-chain bank; it is also Mantle's redefinition of the future financial system. Banks are no longer the exclusive domain of centralized institutions, but rather modules that can be built, combined, and connected. UR will define "the bank on the blockchain" and is the starting point for Mantle to lead the Web3 world into mainstream finance.