Phantom Adds Direct Deposit, Cash Trading, and Debit Card Payments

The crypto wallet says users can receive paychecks into a Cash account, trade using that balance, and spend through a Phantom debit card.

Summary

Phantom, a cryptocurrency wallet provider, says users can now set up direct deposit to receive pay straight into their Cash account. The update also allows users to trade with Cash and make purchases using the Phantom debit card. The rollout expands Phantom beyond wallet storage and token trading into more everyday financial services, linking crypto-related account functions with payments and spending tools.

Terms & Concepts
  • Crypto wallet: A software application that lets users store, send, and receive digital assets and interact with blockchain-based services.
  • Direct deposit: An electronic payment method that sends wages or other funds directly into a user’s account without a paper check.
  • Debit card: A payment card that lets users spend money directly from an available account balance.