What is the current price of CASH?
The current price of CASH is $0.9998 with a 0.00% change in the last 24 hours.
CASH is a US dollar stablecoin issued by Bridge Building Inc, designed by the wallet company Phantom and launched first on Solana. It is the first stablecoin issued through Open Issuance, a Bridge platform that lets a business launch its own stablecoin without building reserve and compliance infrastructure. Every unit is stated to be redeemable one for one for US dollars through Bridge.
Official resources:
CASH is not a founder-led protocol. The issuer is Bridge Building Inc, identified on the official site by NMLS ID 2450917, and the token was designed by Phantom. Bridge, acquired by Stripe, built the Open Issuance platform, and CASH was announced in 2025 as its first launch. Individual executives behind CASH are not named on the official site.
Bridge holds a reserve whose market value, measured at 5:00 pm New York time each Federal Reserve business day, is at least equal to the number of outstanding tokens multiplied by one US dollar. Stated asset classes are US Treasury bills three months or less from maturity, overnight reverse repos collateralized by Treasuries, government money market funds, deposit accounts and tokenized versions of those assets, held in segregated accounts at custodians.
CASH is a payment and settlement instrument rather than a governance or fee token, used to hold dollar balances on-chain, send payments, settle with merchants and serve as collateral in Solana applications. Holders should not assume a yield accrues to them, since the documented revenue share flows to the platforms that originate supply.
The revenue model pushes reserve economics out to distributors, changing the incentive for a wallet, exchange or fintech to integrate it over a larger incumbent. Because it is issued on shared infrastructure, it inherits Bridge's reserve management, compliance posture and one-for-one swaps with other Open Issuance coins.
USDC and USDT are issued by companies that retain the income earned on reserves, and PYUSD is tied to one distributor's ecosystem. CASH instead treats issuance as a service layer and hands reserve economics to whoever brings the supply. The trade-off is that its usefulness depends on how many platforms originate it, while incumbents already have deep venue coverage.
On-chain, the mint runs under Solana's Token-2022 program, and a direct read of the mint account shows extensions including a permanent delegate, a mint close authority and a confidential transfer configuration, with both a mint authority and a freeze authority set. Off-chain, Bridge is a FinCEN-registered money services business with money transmission licenses, and its EU subsidiary is registered in Poland as a VASP, transitioning to CASP and EMI licenses in Luxembourg.
The freeze authority and permanent delegate mean the authority holder can freeze balances and move tokens without the holder's signature. That is normal for a regulated stablecoin, but it is a custodial power a permissionless asset does not have. The terms also state holders receive no property interest in reserve assets, so this is issuer credit risk, and redemption runs through Bridge rather than every venue where the token trades.
Stablecoin economics have concentrated reserve income in a few issuers, which limits what a distributor gains from integrating one. CASH tests whether shifting that income to distributors changes the shape of the market, with a large payments processor on the acceptance side and a widely used wallet on the distribution side.
CASH can be obtained inside the Phantom wallet, swapped on Solana decentralized exchanges, and minted or redeemed through Bridge by businesses that complete onboarding. Confirm the mint address against the official site before swapping.
CASH is a Token-2022 asset on Solana, so your wallet must support that program rather than only the original SPL token standard; mainstream Solana and hardware wallets generally do. A balance inside a custodial app is a claim on that app, not a self-custodied token.
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Read the complete paper trading guideThe current price of CASH is $0.9998 with a 0.00% change in the last 24 hours.
The daily trading volume is $2,990.41 representing a 82.78% change in the past 24 hours.
The market capitalization of CASH is $127,206,690, ranking #183 globally.
The fully diluted valuation (FDV) of CASH is $127,206,690, calculated assuming the total supply of 127,232,137 CASH is in circulation.
Circulating: 127,232,137. Total: 127,232,137. Max: N/A.
In the last 24 hours, CASH traded between a low of $0.9995 and a high of $1.00.
CASH/USDTTether USDT0.9998 USDT
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