What is UR?
Introduction
UR is a smart money app that bridges Web3 assets with traditional finance. We provide users with regulated Swiss bank accounts, multi-currency debit cards, and tokenized deposits on-chain, all seamlessly connected to crypto wallets.
Our infrastructure is built on modern blockchain rails (Mantle Network), allowing for unique efficiency, transparency, and interoperability that traditional banks cannot offer.
Platforms available:
Webapp: https://get.ur.app
Google Playstore: https://play.google.com/store/apps/details?id=com.mantle.ur
URID (UR Identity)
The URID is a unique, on-chain digital identity represented as a non-fungible token (NFT) minted on the blockchain. It serves as the foundational access credential within the UR ecosystem, cryptographically anchoring the user's compliance profile (KYC/AML status) and ownership of the associated IBAN. The URID acts as the singular key to accessing the user's financial services.
UR Account
The UR Account is a hybrid financial infrastructure that seamlessly bridges regulated Swiss banking with Web3 settlement rails. It functions as a smart money account linked to an active URID. Fiat balances are issued as Tokenized Deposits (e.g., USD24, EUR24) on the blockchain, backed 1:1 by fiat reserves. This architecture provides users with a fully compliant banking interface—including personal Swiss IBANs and debit card capabilities—while enabling instant, atomic on-chain settlement for crypto-to-fiat conversions, card spending, and cross-border transfers.
UR Account Variants
The structure of a UR Account depends on the integration model chosen by the Partner:
Delegated Mode: UR provisions a dedicated Embedded Wallet for each user. This wallet functions as the UR Account and is accessed securely via the user's social login credentials (e.g., Google or Email).
External Wallet Access Mode: Users connect their existing external Web3 wallet (e.g., MetaMask) to serve as their UR Account. In this scenario, the URID is minted directly to the user's external wallet, granting them full self-custody over their identity and fiat balances.
Core Features for the End-User
Regulatory Assurance
All users must complete a Know Your Customer (KYC) process, ensuring full compliance with global financial regulations
Account Access
Native Non-Custody Access: Access your UR account via the built-in Turnkey wallet—either directly through the UR App/dApp, or via verified partners.
External Wallet Access: Connect an existing external wallet to provision and access your UR account within verified third-party applications.
Tokenized Assets
UR supports tokenized deposits, stablecoins, and supported crypto assets.
Rails
(Available upon KYC verification)
Banking
Swiss IBAN Accounts in multiple currencies (EUR, USD, CHF, RMB, SGD, HKD, JPY)
Mastercard Debit Card linked to user fiat balance (Principal Issuer)
Global Transfers via SEPA, SWIFT, SIC, supporting EUR and CHF (more to be added)
Crypto
Users are able to send and receive fiat from other verified UR user. This is enabled by the transfer of tokenized deposit on Mantle Network.
Crypto <> Fiat Conversion
Off-ramp (Crypto-to-fiat conversion)
Deposit crypto (USDC, USDT, USDe, ETH) and receive fiat.
UR currently supports crypto assets from Ethereum, Arbitrum, Mantle, and Base. Coming soon: TON, Solana.
On-ramp (Fiat-to-crypto conversion)
Coming soon
FX
Multicurrency accounts supporting EUR, USD, RMB , JPY, HKD, SGD, and CHF allow users to perform FX swaps natively on UR.
Tokenized Deposits
1:1 fiat-backed tokens (USD24, EUR24, etc.) minted on Mantle Network. Backed by fiat reserves in Swiss bank accounts
Yield/ Savings Account
Users automatically earn weekly yield as long as they hold USDe on their UR account.
3. How Tokenized Deposits Work
The core that powers UR is the concept of Tokenized Deposits. This mechanism is how we translate on-chain assets into real-world, spendable fiat currency. A tokenized deposit is a one-to-one, fully-backed digital receipt for fiat money held in our bank, recorded on the Mantle Network.
For example, when a user holds 100 USD24 tokens in their internal UR wallet, they have a legal claim to $100 USD from UR.
This on-chain representation allows for unprecedented speed and efficiency.
Tokenized deposits are simply represented as fiat on the UI.
3.1. The Off-Ramping Flow: From Crypto to Fiat Balance
This is the process of a user converting their digital assets (e.g. USDC) into spendable fiat balance in UR.
3.2. The Spending Flow: From Fiat Balance to a Real-World Purchase
This is how a user spends their tokenized deposit balance using the UR Mastercard. The UR system instantly burns the corresponding tokens and approves the transaction, settling the fiat later via Mastercard rails.
3.3. FX Conversion
Users can instantly convert between fiat currencies they hold (e.g., USD to EUR). Behind the scenes, UR executes an atomic burn-and-mint operation on the user's tokenized deposits.
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