Bridge launches Open Issuance so any business can create its own stablecoin; Phantom's CASH is first

Bridge (Stripe)/Bridge stablecoin platform & Open Issuance

Bridge opened a platform for businesses to launch their own branded stablecoins, with reserves held in US Treasuries through BlackRock, Fidelity and Superstate. Issuers keep the roughly 3-4% reserve yield and can pass some to users, and tokens on the platform swap one-for-one with no fee. Phantom CASH came first; Native Markets (USDH, for Hyperliquid) and MetaMask are among early issuers.

• Reserve managers: BlackRock, Fidelity, Superstate.
• Issuers earn about 3-4% a year on reserves.
• One-to-one swaps between all Open Issuance tokens.
• Early issuers: Phantom (CASH), Native Markets (USDH), MetaMask.