Phantom Launches Stablecoin CASH for Consumer Finance Platform
Phantom, a leading crypto wallet provider, has launched its own stablecoin, CASH, in collaboration with Stripe and Bridge. The new stablecoin, pegged to the U.S. dollar, will underpin Phantom's upcoming consumer financial platform, Phantom Cash.
Phantom Cash, set to roll out next month, offers innovative features such as peer-to-peer transactions, a Visa debit card, and rewards for unspent CASH. The platform aims to differentiate itself by allowing businesses using CASH to keep 100% of the net revenues.
Currently in limited early access, Phantom Cash is the first consumer payment product launched on Stripe's Open Issuance stablecoin platform. This platform, developed by Stripe and its acquired company Bridge, enables businesses to create their own stablecoins. Initially deployed only on Solana, CASH is expected to expand to other chains in the future. Phantom, with its 15 million monthly active users, raised $150 million in a Series C funding round earlier this year, valuing the firm at $3 billion.
Phantom Cash, powered by the CASH stablecoin, promises unique features and revenue-sharing opportunities. With a strong user base and significant funding, Phantom is poised to make waves in the consumer finance sector using its new stablecoin.
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