Phantom Introduces New Dollar Stablecoin on Solana

Crypto wallet provider Phantom announced the launch of the dollar-pegged stablecoin CASH, designed for mass adoption.
The Phantom team introduced CASH, a dollar stablecoin issued on the Solana network through Stripe’s Open Issuance infrastructure. The CASH model provides that developers and companies issuing the token will receive revenue from its issuance, intended to stimulate network growth and stablecoin adoption.
CASH is positioned as a neutral and “open” stablecoin, available for integration into third-party services. It is backed 1:1 with the U.S. dollar and is aimed at use both in decentralized finance and in everyday payments. Built-in features of the asset include:
- deep on-chain liquidity;
- support from leading market makers;
- integration with the Solana DeFi ecosystem.
In the near future, CASH will also become available for e-commerce through integration with Stripe Checkout. One of the key distribution channels for the token will be Phantom itself, whose audience exceeds 15 million users. Built-in wallet services will provide access to virtual and debit cards, instant top-ups from bank accounts, and P2P payments.
CASH became the first token issued via Open Issuance, Stripe’s service for corporate stablecoin issuance.