Phantom Cash and the Phantom card: how they work and what they cost
Phantom Cash is a dollar account inside Phantom that holds CASH, a USD stablecoin on Solana issued through Stripe's Bridge. The virtual Visa debit card, bank deposits and bank withdrawals are US-only (not New York) and need identity verification. CASH is not a bank deposit, and card and funding fees apply.
Phantom announced Phantom Cash on 30 September 2025 as a way to hold, spend and send dollars from the wallet (Phantom blog, 2025). It started with a waitlist, and Phantom opened the virtual card broadly to US users in spring 2026 (Stripe customer story, 2026). This page sets out what it is, where it works, what it costs and what can go wrong. Last verified: 25 October 2026.
What Phantom Cash is
- CASH is a US-dollar stablecoin on Solana, designed to trade at $1. It was the first stablecoin launched on Open Issuance, the stablecoin platform of Bridge, the company Stripe acquired (Blockworks, 2025; Stripe, 2026).
- The Cash account is a section of the Phantom app that holds your CASH. Phantom describes it as a self-custodial Solana wallet that only you control: Phantom and its partners cannot move or withdraw your Cash (Phantom help centre, 2026). Like the rest of Phantom, it depends on your recovery phrase or login backup.
- The Phantom card is a virtual Visa debit card that spends your Cash balance, usable online and through Apple Pay or Google Pay.
- Payments to other Phantom users by username, and to Solana addresses.
Where it works
| Feature | Available | Not available |
|---|---|---|
| Cash account (hold and send CASH) | Worldwide | Sanctioned jurisdictions |
| Add Cash by card through Stripe | US (except New York) and EU | Elsewhere |
| Virtual debit card | US (except New York) | New York and all other countries |
| Bank deposits and withdrawals | US (except New York) | New York and all other countries |
| Cash Rewards | Most countries | US, UK, sanctioned jurisdictions |
Source: Phantom help centre, feature availability by region and Cash Rewards FAQ (2026). Phantom's original announcement also said the product was not intended for a UK audience. If a feature is blocked where you are, the app shows a notice. Any website or ad offering a "Phantom card" outside these regions is not from Phantom.
Identity verification (KYC)
Holding and sending CASH on-chain does not need identity verification. The off-chain features (virtual bank account details, direct deposit, the card) do, for regulatory reasons, and Stripe carries out the checks. Phantom says it does not access that personal information (Phantom blog, 2025). You must be 18 or older for the card. Phantom's in-app verification is the only legitimate route: nobody from Phantom will ask for your ID by email, phone or social media.
Who issues the card
Phantom's launch post names Lead Bank as the card issuer under licence from Visa U.S.A., with Bridge Ventures LLC as programme manager. Phantom calls itself the "platform provider" and states that neither Phantom nor Bridge is a bank (Phantom blog, 2025). Stripe describes the card as built on Stripe Issuing (Stripe, 2026).
Bridge has told its card partners it is moving its card programme to Stripe Issuing, with a target date of 31 July 2026 for new cards and reissues; existing cards must be reissued on a new card range and will likely need to be added to Apple Pay or Google Pay again (Bridge support centre, 2026). Phantom's Cash page still named Lead Bank as issuer and Bridge as programme manager when we checked on 25 October 2026, and we could not confirm from Phantom whether or when the change applies to Phantom cards. If you are told your card is changing, check inside the Phantom app only, and update any subscriptions that use the card.
A physical card was described as "coming soon" in September 2025. As of 25 October 2026 we found no way to order one; the card is virtual only.
Fees
| Action | Fee (Phantom help centre, 2026) |
|---|---|
| Virtual card issuance | Free |
| Card purchases in the US | Free |
| International card purchases | Fees may apply; shown before you confirm |
| Add Cash with a debit card (incl. Apple Pay, Google Pay) | 1.75% |
| Add Cash with a credit card | 3.50% |
| Direct deposit from a US bank | 0.30% |
| Domestic wire from a US bank | 1.00% |
| Standard ACH withdrawal | Free |
| Fast ACH withdrawal | $1.00 + 0.75% (minimum $1.50) |
| Swap USDC, USDT, USDG or PYUSD (Solana) into Cash | Free |
| Swap Cash into USDC | Free |
| Swap other tokens into or out of Cash | 0.85% |
| Send CASH to a username or Solana address | Free, plus a one-time network setup cost if the recipient has never held CASH |
Your bank or card provider may add its own charges. Phantom's help centre does not mention ATM withdrawals, and we found no documented ATM option.
Cash Rewards (outside the US and UK)
Where available, Phantom pays a reward on CASH held in the Cash account, shown as an annual percentage yield, accrued daily and paid weekly. Phantom says the rewards are paid by Phantom Global, Inc. and funded as a marketing expense, not by lending or staking your money. Phantom can change, pause or end the rate at any time. Once rewards reach $1,500 in a tax year they pause until you verify your identity or confirm you are not a US person, and rewards may be taxable (Phantom help centre, 2026).
Risks and limits
- Not a bank account. CASH is a stablecoin, not a deposit. Phantom and Bridge state they are not banks, and Phantom's materials we read do not describe any deposit insurance for CASH balances.
- Issuer risk. A stablecoin is only as good as its issuer's reserves and redemption process. Bridge says CASH is fully backed; check the issuer's own disclosures.
- Self-custody. If you lose your recovery phrase or login backup, nobody can restore your Cash. If a scammer gets it, they can take it. See Phantom recovery phrase.
- Personal data. Using the card or bank features means sharing identity documents with Stripe and its partners.
- Changing terms. The product is young; fees, regions and the issuer set-up have already changed. Read the cardholder agreement in the app.
- Scams. Fake "Phantom card" sign-up pages, fake KYC requests and "support" numbers are common. Phantom has no phone support. See Phantom support phone scams.
For all of Phantom's charges in one place, see Phantom fees explained.
Frequently asked questions
Is the Phantom card available outside the US?
No. As of October 2026 the virtual Visa debit card, bank deposits and bank withdrawals are available only in the US, excluding New York. Holding and sending CASH works worldwide except in sanctioned jurisdictions.
Do I need KYC for Phantom Cash?
Only for the off-chain features: the card, bank account details, direct deposit and bank withdrawals. Stripe handles the verification. Holding and sending CASH on Solana needs no KYC.
Who issues the Phantom card?
Phantom's launch announcement names Lead Bank as the issuer and Bridge Ventures LLC as programme manager. Bridge is moving card programmes to Stripe Issuing; check the cardholder agreement in the app for the current issuer.
Is my Phantom Cash balance insured?
CASH is a stablecoin held in your own wallet, not a bank deposit. Phantom and Bridge state they are not banks, and we found no deposit insurance described for CASH balances.
What does it cost to add money to Phantom Cash?
According to Phantom's help centre: 1.75% by debit card, 3.50% by credit card, 0.30% by US direct deposit and 1.00% by domestic wire. Swapping USDC, USDT, USDG or PYUSD on Solana into Cash is free.
Does Phantom Cash pay interest?
Outside the US and UK, Phantom offers Cash Rewards funded by Phantom as a marketing expense. The rate is set by Phantom and can change or stop at any time. It is not interest from a bank.