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Phantom Wallet Rolls Out CASH Stablecoin Platform

Phantom is launching Phantom Cash, a stablecoin-based payments platform that integrates banking features, debit cards, and peer-to-peer transfers into its crypto wallet.

Bankless
Sep 30, 2025 • 1 min read

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Phantom, best known as a crypto wallet for Solana, has launched a stablecoin aimed at turning digital assets into spendable money. This rollout is intended to move the wallet towards banking-style services built around the CASH stablecoin.

What’s the Scoop?

Stablecoin Strategy: CASH is Phantom’s USD-pegged stablecoin issued on Solana. The stablecoin is designed specifically for daily payments, with plans to integrate into Stripe Checkout for merchant adoption.
Conversion and Liquidity: Phantom allows for instant conversion of crypto into CASH or stablecoins, making it easier to move between on-chain and off-chain spending.
Regulatory Boundaries: On-chain features (like transfers) require no KYC, but debit cards, virtual accounts, and direct deposit integrations will, with Stripe handling verification.
Earnings and Incentives: Phantom plans to introduce yield on idle CASH balances later this year, a feature that could put it into closer competition with fintech platforms like PayPal and neobanks offering rewards on deposits.