Deployments · Open Issuance · platform by Bridge
Phantom CASH stablecoinNew
A US dollar stablecoin issued by Bridge, Stripe's stablecoin company, for the Phantom crypto wallet, where it is the dollar balance users fund from a bank account or card and then spend, send or trade. It was the first coin announced on Bridge's Open Issuance platform in September 2025, which lets a business launch its own branded stablecoin with Bridge managing reserves, liquidity and compliance, and swap one for one with other Open Issuance coins. About $129 million was in circulation in October 2026, on Solana.
Live (limited) since 25 Oct 2025[1] — First supply in DefiLlama's series; held inside one wallet app. · Reviewed 21d ago
- Assets
- Networks
- Hyperliquid Public, permissionless[2]HyperEVM contract listed by Bridge; no supply there in DefiLlama's data.
- Jurisdictions
- United States
Participants
- BridgeIssuer, Platform provider[2][3]United States
- PhantomDistributor[3][2]United States
- StripeInvestor[3]United States
Likely relevant regulation
- US federal banking agencies' framework for bank crypto-asset, stablecoin and tokenisation activitiesUnited States
- GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act)United States
Assets
- IssuesCASH (Phantom) (CASH)[2]
Metrics
- ~$128.59mTokens in circulation · as of 18 Oct 2026 · on Solana[1][2]On-chain via DefiLlama (all supply on Solana); Bridge's page gives the same total.
- ~$130.36mSupply on chain (daily) · as of 7 Nov 2026[4]Automated daily reading of on-chain supply across all chains.
- ~$130.36mSupply on chain (daily) · as of 7 Nov 2026 · on Solana[4]Automated daily reading.
Timeline
- Happened 25 Oct 2025 · Launch · recorded 18 Oct 2026First CASH supply on Solana in DefiLlama's data.[1]
- Happened 30 Sep 2025 · Announcement · recorded 18 Oct 2026Stripe unveils Bridge's Open Issuance platform, with Phantom launching CASH as its first stablecoin.[3]
Sources
- [1]CASH stablecoin data (API) — DefiLlama, 18 Oct 2026. Accessed 18 Oct 2026.A
- [2]Open Issuance Transparency | Bridge — Bridge. Accessed 18 Oct 2026. Issuer's transparency page for Open Issuance stablecoins: contracts per chain, circulating supply and reserves, read 18 Oct 2026..B
- [3]Introducing Open Issuance from Bridge: A new platform to launch your own stablecoin — Stripe, 30 Sep 2025. Accessed 18 Oct 2026.B
- [4]Supply by chain, read daily — DefiLlama (automated daily refresh). Accessed 7 Nov 2026.A
Spotted something out of date or missing? Suggest a correction, ideally with a source.