Wallet becomes daily payment hub

The new Phantom cash account aims to turn Phantom Wallet into a daily spending tool, with instant, gas-free cash-to-crypto moves and familiar banking-style features.

How does Phantom Wallet’s new Cash Account work?

Phantom has introduced a dedicated Cash Account tab that brings instant, gas-free cash transactions directly into its interface. Users can now receive, trade, or send CASH without paying fees on stablecoin swaps, while enjoying near-instant settlement for cash-to-crypto and crypto-to-cash moves inside the wallet.

According to today’s official announcement, “Starting today, you’ll notice a dedicated Cash Account tab in your wallet. With this account, you can instantly send and trade CASH without gas on stablecoin swaps.” The Cash Account appears automatically for existing users, removing the need for extra onboarding flows or separate sign-ups.

The team presents this launch as the start of a “New Money” era, where digital tokens behave more like everyday money inside traditional-style payment experiences. Moreover, the new tab is designed to make day-to-day money movement feel as simple as using a modern neobank app.

What problems does the Cash Account try to solve?

With the new interface, the wallet evolves from a pure crypto storage tool into a more complete financial hub. Users can move fiat-like value as smoothly as sending a text message, whether they are converting assets, preparing to spend, or covering on-chain costs.

Most importantly, users can send, receive, or trade cash balances instantly without paying gas fees on those internal swaps.

Anyone already using the wallet can start using the Cash Account immediately, without going through know-your-customer checks. That said, Phantom stresses that more advanced, off-ramp style tools will require KYC later, as they connect more tightly to banking rails and regulated payment partners.

As a result, the application now serves as a practical alternative for everyday financial activity, not only as a place to park digital assets. However, the team is rolling out functionality in stages to keep the experience predictable and easy to learn for mainstream users.

What is the CASH stablecoin behind Phantom’s experience?

At the core of this new experience sits CASH, a 1:1-backed stable token designed by Phantom and issued by Bridge. The asset is described as a fully backed, USD-pegged currency that users can send, exchange, and spend without facing the usual technical frictions of on-chain transactions. This tight integration lets the balance inside the Cash tab behave like a unified “everything account.”

Notably, Phantom has launched the Cash Account with limited capabilities so users can familiarize themselves with the interface before more advanced tools arrive. Meanwhile, even this modest release provides a clear upgrade in usability and speed, giving existing users a smoother route from crypto balances to spendable purchasing power.

Documentation from Phantom’s help center further explains how CASH underpins features such as instant payments and username-based transfers, with Bridge acting as the issuer and payments partner.

For additional technical details, users can consult the official overview of Phantom Cash mechanics.

Which new features are coming for priority users?

The team is preparing a broader rollout of off-chain tools in the coming months, focused on boosting adoption of this stable token in mainstream finance. These next steps are aimed particularly at “priority waitlist members,” who will gain early access to new payment and off-ramp products tied to their balances.

Among the flagship additions is a physical debit card for priority users. The card will work with Google Pay and Apple Pay, extending the utility of CASH beyond the confines of the wallet. Individuals will be able to tap their balance for online payments, everyday shopping, and in-person transactions wherever Visa and major mobile wallets are accepted.

Phantom support materials already outline how the debit product lets Bridge deduct funds from a user’s CASH balance and convert them into USD at the point of sale. Interested users can review the official guide on using the Phantom debit card for in-store and online purchases.

When will bank transfers link to Cash Accounts?

In addition to card-based spending, Phantom plans to introduce bank transfers that connect directly to these new balances. This will allow users to deposit or withdraw funds from their Cash Accounts through traditional banking channels, bringing the experience closer to that of a neobank. Also, the wallet will support scheduled deposits, enabling recurring top-ups from linked accounts.

However, these banking and off-ramp features will require full KYC verification to unlock, in line with regulatory expectations for fiat rails. The team emphasizes that they remain optional, so users who only want on-chain transfers and swaps can continue using the product without additional checks.

For a deeper breakdown of how virtual accounts, direct deposit and off-chain rails are expected to work in the U.S. market, Phantom’s own blog post on introducing Phantom Cash provides further context.

Altogether, Cash Accounts mark a shift in the wallet’s identity: from a crypto vault into a flexible environment for simple conversions, direct payments, and day-to-day money management. As the roadmap unfolds, the phantom cash account could become a bridge between token-based finance and familiar, card- and bank-powered spending.