Phantom unveils Phantom Cash as first stablecoin on Stripe’s Open Issuance

Phantom has launched Phantom Cash, a new payments solution that transforms its crypto wallet into a comprehensive money app. Users can instantly fund their balances using a bank or card, engage in fee-free buying and selling of crypto on stablecoins, make Visa payments via Apple Pay or Google Pay, and send money to peers. This service is supported by CASH, a stablecoin issued by Bridge, which was recently acquired by Stripe. Phantom Cash is the first product to utilize Stripe’s new Open Issuance platform, enabling businesses to create and manage their own stablecoins with minimal technical requirements. Open Issuance manages reserve assets through institutions like BlackRock and Fidelity, and facilitates liquidity through Lead Bank, ensuring that stablecoins made via the platform are compatible with one another. This initiative by Phantom positions Stripe at the forefront of integrating stablecoins into everyday payment systems, making cryptocurrencies more accessible. Other stablecoins are also expected to launch on Open Issuance, indicating a growing trend toward adopting stablecoins in mainstream commerce.

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