Phantom stablecoin CASH issuance exceeds 100 million USD
According to The Defiant, since the launch of the self-custodial Web3 wallet Phantom's native stablecoin CASH on September 30, the issuance has surpassed $100 million in just two months. The growth is mainly attributed to product design and on-chain incentive programs. In mid-November, Phantom launched a fee-free CASH account, supporting instant bank transfers, P2P transfers, and card integration.One of Solana's major liquidity providers, Kamino, also partnered with Phantom in early October to launch the CASH growth program, offering KMNO token rewards. These measures led to CASH transaction volume soaring to nearly 162,000 on November 25. In contrast, while MetaMask's stablecoin mUSD also surpassed $100 million in October, its supply has now fallen back to about $25 million.