About CASH
CASH is a USD-pegged stablecoin issued as an SPL token on the Solana blockchain. It is the default cash balance within the Phantom wallet and is designed for payments and settlement. Phantom created it in partnership with Stripe, using Bridge's Open Issuance platform. The project became public in 2025, and the token launched on Solana on 12 September 2025. CASH does not operate its own blockchain. It inherits Solana's proof-of-stake validator consensus and runtime. The token is fiat-backed and redeemable 1:1 for US dollars. It is used for on-chain transfers, payments, and settlement, not for staking or governance. Its primary purpose is to function as a digital dollar for everyday payments, connecting Solana DeFi with merchant payment rails through Stripe and the Phantom Card. The supply model is uncapped and elastic. Circulating supply has been reported at roughly 120 to 126 million CASH, expanding or contracting as users mint and redeem against underlying USD reserves.
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A sourced map of CASH's relationships is on the way.
Partners, competitors and related assets, each link independently verified and source-linked before it appears here.
The Crypto Briefing podcast is on the way.
Conversations on CASH and the wider market, hosted by our team, will appear here once episodes are live.