Phantom became the first business to launch a stablecoin on Bridge’s Open Issuance platform in September 2025. Working with Stripe and Bridge, Phantom built CASH alongside a native onramp, a branded spending card, and virtual accounts.

In spring 2026, Phantom rolled out the Phantom debit card to all users, and issued cards to thousands of users within weeks of general availability.

“We're becoming a global money app. You can save, trade, and spend in the same account, without ever leaving Phantom,” said Will McComb, product lead for money movement at Phantom.

Until recently, crypto users who wanted to fund their wallets or spend their balances often had to leave their wallet app to do so. Funding typically required using a centralized exchange or a pop-up onramp provider, leading to friction and drop-off. On the spending side, users had to cash out before they could use their funds in everyday transactions.

CASH: The first stablecoin on Open Issuance

In partnership with Bridge, Phantom created CASH after finding that existing stablecoins didn’t offer the same features for a user’s overall money experience. Using Bridge’s Open Issuance platform, which allows businesses to design, launch, and manage their own stablecoins, Phantom was able to launch CASH as the first stablecoin on the platform.

Pegged 1:1 to the US dollar, CASH is designed to be the default store of value for Phantom users.
It lets users hold and use funds directly within their wallet. With the Phantom Card, CASH is already accepted at thousands of Stripe merchants, giving Phantom users a growing network of places to spend online.

“CASH is just money. It's simple and easy to use, and it's usable anywhere online with thousands of Stripe merchants or in the real world with the Phantom Card,” McComb said.

To make it easy for users to fund their Phantom account and convert those funds into CASH, the company integrated Stripe’s Crypto Onramp via embedded components. Rather than redirecting users to a third-party webview, the onramp is built directly into the Phantom app for a more native experience. It uses Link, a digital wallet built by Stripe, so users can fund with saved payment methods and use their saved verification details for faster checkout.

From stablecoin to spending card to global money app

Phantom also launched Phantom Card, a stablecoin-backed card built on Stripe Issuing, and integrated with Bridge’s stablecoin infrastructure. The card allows users to spend their CASH balance anywhere without having to off-ramp their funds first. In spring 2026 after general availability, Phantom issued thousands of cards.

Looking ahead, the company plans to expand the card globally through Stripe’s issuing network, bringing the product to its large international user base.

“We chose Stripe and Bridge for our card program because we needed a trusted, regulated partner with global reach,” McComb said. “We're excited to have the ability to launch the card anywhere around the world.”

For additional flexibility, Phantom also enabled users to transfer funds directly from their bank accounts using virtual accounts through Bridge, with funds automatically converted into CASH.

“We want to make crypto usable in everyday life. CASH becomes the default store of value for Phantom users because it’s simple and easy to use,” McComb said.