Phantom Enters the Stablecoin Arena with CASH

Phantom, a popular crypto wallet on the Solana blockchain, has announced the launch of CASH, a new stablecoin pegged to the U.S. dollar. This move marks Phantom's entry into the stablecoin market and signals a broader push towards providing comprehensive financial services within its wallet ecosystem.

Building on Bridge's Open Issuance Platform

CASH is built using Bridge's innovative Open Issuance platform, which allows businesses to create their own stablecoins. Phantom's VP of Strategy, Donnie Dinch, emphasized that CASH was designed to meet specific needs that existing stablecoins didn't address.

One key differentiator is that builders and businesses utilizing CASH will retain 100% of the net revenues generated. The stablecoin will initially be deployed on Solana, with plans for future expansion to other blockchains.

Introducing Phantom Cash: A New Financial Platform

CASH will serve as the foundation for Phantom Cash, a new financial platform built on Phantom's existing wallet. The platform will offer features such as:

• Instant bank funding
• Peer-to-peer payments
• A Visa debit card
• Rewards on unspent stablecoins

Phantom aims to create a more comprehensive and user-friendly financial platform for its users.

Early Access and Future Rollout

Phantom Cash is currently in limited early access, with a wider rollout expected next month. Users can join a waitlist to gain access in eligible jurisdictions.

Key Takeaways

• Phantom wallet launches its own stablecoin, CASH, built on Bridge's platform.
• CASH will power Phantom Cash, a new financial platform offering various services.
• Builders using CASH retain 100% of net revenues.
• Phantom is expanding beyond a simple wallet into a broader financial ecosystem.