Mantle has unveiled UR, an innovative on-chain banking project aimed at integrating traditional payment systems with decentralized finance (DeFi) infrastructure, focusing on the Asian market. Developed by Neo, a former payments industry professional, UR seeks to transform the traditional QR payment model into a digital banking solution. The project operates under a full-reserve banking model, ensuring a 1:1 backing of user-deposited fiat currency with tokenized assets, and holds a FINMA regulatory license in Switzerland. UR offers users the ability to deposit and withdraw fiat currency via API, perform cross-chain settlements, and integrate deeply with applications and wallets. Mantle envisions UR as a "prototype of an on-chain bank," aiming to redefine the account layer as programmable and composable, beyond just an encrypted payment tool.