Key Takeaways:
- Phantom introduces Phantom Cash, turning its crypto wallet into an everyday money app: fund accounts instantly, spend via Visa/Apple Pay/Google Pay, trade stablecoins with zero fees, and send peer payments.
- The system is powered by CASH, a fully backed stablecoin issued by Bridge and integrated with Stripe’s Open Issuance infrastructure.
- With interoperability among stablecoins and built-in payments rails, Phantom aims to push crypto use beyond trading and into everyday spending.
Phantom’s new product signals a shift: crypto wallets are trying to become full financial platforms, not just trading tools.
Read More: Phantom Wallet Surpasses $1B Trading Volume, Reinventing How DeFi Users Interact
What Phantom Cash Is
Phantom recently unveiled Phantom Cash, a new offering that elevates its wallet from a crypto hub into a unified money platform.
Under this model, your Phantom wallet becomes a one-stop place for holding, converting, sending, and spending value whether that value started as fiat or crypto. Users will be able to:
- Link a bank or card to fund their Phantom balance instantly
- Buy and sell stablecoins inside the wallet without fees
- Use Apple Pay, Google Pay, or Visa (through a virtual or prepaid card) to spend funds wherever accepted
- Send money to others in a few taps
The idea: remove friction between crypto and real-world spending.
The Role of CASH & Open Issuance
CASH Stablecoin
The foundation of Phantom Cash is a USD pegged stablecoin, CASH. Phantom positions CASH as being fully backed and open loop, which it says the current stablecoins were not made to be.
CASH will be initially operating on Solana, and it will be expanded to other chains in the future. Another indication that Phantom provides is that users can have passive rewards on idle CASH balances without any long-term commitment..
Open Issuance Infrastructure
Phantom redeems CASH over the Open Issuance protocol, an implementation of Bridge (a payments infrastructure company that is linked to Stripe). Open Issuance is created in such a way that any business or wallet can start and manage its own stablecoin using the least amount of code.
Key attributes:
- Reserve & liquidity management is outsourced to trusted institutions
- Interoperability: Stablecoins issued via Open Issuance can swap with one another without heavy conversion costs
- Revenue model alignment: Builders using CASH will keep full net revenues
By leveraging Open Issuance rather than building a stablecoin from scratch, Phantom accelerates deployment while tapping into a broader stablecoin ecosystem.
Read More: PayPal’s “Pay with Crypto” Targets $3 Trillion Market, Slashes Global Payment Fees by 90%
