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Plutus, a UK-based crypto neobank focused on everyday payments, announced that its PlusMore initiative has raised $2.3 million on the Base blockchain. The funding was linked to the launch of the PLUS loyalty reward token and involved several distribution channels tied to the Plutus ecosystem.
Plutus is a UK crypto neobank offering payment services. PlusMore is its Reward-as-a-Service product built for partners. Base is a Layer 2 blockchain backed by Coinbase.
The PLUS token is designed to provide on-chain utility, with a stated minimum redemption value of $10 per token on Base. Use cases include cashback, gift cards from major brands, partner discounts, and early access to new Plutus features.
The original funding plan included allocations through external launchpads. However, the PlusMore team canceled that portion after a breach of vesting conditions, which could have led to early token circulation. Following this decision, $700,000 was raised through in-app sales. The PLUS token is now trading on Aerodrome DEX, a decentralized exchange developed within the Base ecosystem.
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