phantom Launches CASH Stablecoin on solana
Phantom has introduced a new U.S. dollar-backed stablecoin named CASH, launching initially on the Solana blockchain.This move aims to enhance crypto payments for everyday use.
CASH is built on Stripe’s Bridge Open issuance platform. It will fuel Phantom Cash, a financial app designed to integrate crypto into daily transactions. Over 15 million Phantom wallet users can now use their crypto balance to pay for items on platforms that accept Apple Pay, Google Pay, or Visa.
Phantom Cash transforms crypto from a static asset into a versatile spending tool. Users can access features like virtual and debit cards, instant bank funding, and peer-to-peer payments. The platform aims to simplify crypto usage, eliminating extra steps and friction.
Stripe’s Open Issuance platform enables businesses to create their own stablecoins. Phantom is among the first to use this feature. Other platforms like Hyperliquid and MetaMask are also exploring this technology.
As stablecoin adoption grows, major players like Tether and Circle dominate the market. However, customary banks and financial institutions are increasingly interested in this space. Phantom’s CASH aims to bring new financial functionality to its users, expanding the utility of their crypto holdings.
