CASH

Two of crypto's most recognizable consumer names sit behind CASH: Phantom, the Solana wallet, designed it, and Bridge, the stablecoin company Stripe acquired, issues it through its Open Issuance platform. Launched first on Solana, the token is fully backed by cash-equivalent reserves held with custodians, structured to match the payment-stablecoin requirements of the US GENIUS Act. Redemption is open to ordinary users rather than only institutions, but access runs through Bridge: a holder must become a verified Bridge user, clearing full KYC before minting or redeeming one-for-one. The pitch is distribution. CASH is meant to move across Stripe's merchant network and inside Phantom's wallet without users leaving the app, and businesses that originate supply keep the yield it earns. It reads as a payments token first, wrapped in two of the largest brands in consumer crypto and fintech.