Crypto Wallet Phantom Unveils Stablecoin and Payments Service

Core Insights - Phantom has launched a new U.S. dollar-pegged stablecoin called CASH, developed in collaboration with Stripe and Bridge, to support its financial platform Phantom Cash [1] - The stablecoin is designed to allow businesses to create their own stablecoins using Bridge's Open Issuance platform, with builders retaining 100% of net revenues [2] - The initial deployment of CASH will be on the Solana blockchain, with plans for future expansion to other chains [2] Group 1 - CASH will be integrated into Phantom Cash, which enhances the existing wallet with features like instant bank funding, peer-to-peer payments, a Visa debit card, and rewards on unspent stablecoins [3] - The platform is currently in limited early access, with a waitlist open for eligible jurisdictions, and is expected to roll out next month [4] - Phantom reported having 15 million monthly active users at the beginning of the year and raised $150 million in a Series C funding round, valuing the company at $3 billion [4]