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Phantom Wallet Turns Into Everyday Money App With Debit Card Launch
Phantom Wallet has begun rolling out its long-anticipated debit card in the United States, taking a major step toward transforming a crypto wallet into an everyday payments app. The company confirmed on December 15 via a post on X that early access to its Phantom Cash prepaid debit card is now available to select U.S. users.
Phased U.S. Launch Begins
The rollout is happening gradually through Phantom’s waitlist, with access opening throughout the week. For now, the debit card is limited to U.S. users, though Phantom has indicated that international expansion is planned at a later stage. The phased approach reflects a cautious entry as the company introduces crypto-native spending to a broader audience.
Spend Stablecoins Directly From Phantom Wallet
The Phantom Cash debit card is a prepaid Visa card that allows users to spend directly from their on-chain Phantom Cash balance, which is backed by CASH, a U.S. dollar-pegged stablecoin on Solana. At launch, users receive a virtual card that can be added to Apple Pay and Google Pay for contactless payments, with physical cards expected later.
When a purchase is made, the app automatically converts the on-chain stablecoin balance into U.S. dollars at the point of sale. This removes the need to manually sell crypto or preload a separate balance, creating a familiar debit card experience while keeping funds on-chain until the moment of payment.
Identity Verification and Card Issuance
Access to the card requires identity verification, which also unlocks additional Phantom Cash features, including direct bank transfers and seamless on- and off-ramps. Phantom emphasizes that it is not a bank. The prepaid Visa card is issued by Lead Bank and managed by Bridge Ventures, with fees potentially applying depending on usage.
Part of Phantom’s Push Into Everyday Payments
The debit card launch builds on Phantom’s broader expansion this year, following the introduction of a dedicated Cash tab supporting gasless peer-to-peer transfers and instant stablecoin conversions. With over 15 million monthly active users across Solana, Ethereum, Bitcoin, and Sui, Phantom is entering an increasingly competitive space—standing out by keeping funds fully on-chain until checkout.
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