Phantom launches U.S. debit card to spend crypto and earn up to 4% back
Phantom, the Solana-focused crypto wallet, has rolled out a U.S. debit card that converts crypto to dollars at point of sale and integrates with the Phantom app for in‑app card management. Initially available to U.S. users, the card supports on‑chain payments, functions wherever debit cards are accepted, and offers up to 4% crypto rewards. The launch follows an industry trend of wallets and exchanges adding payment rails to boost real‑world utility and mainstream adoption. For traders, the move increases practical demand for Solana‑linked wallets and could modestly lift demand for SOL and tokens within the Solana ecosystem. Key items to watch: supported assets, conversion/fee mechanics, reward structure, and user growth — all of which can affect on‑chain liquidity, fiat conversion flows, and short‑term trading activity.
Bullish
The card increases real‑world utility for wallets tied to the Solana ecosystem, which is likely to raise transactional demand for SOL and related tokens. Short term, announcements (supported assets, fees, reward mechanics) may trigger modest buying as traders anticipate higher on‑chain activity and fiat conversion flows. The rewards (up to 4%) and convenient in‑app management can accelerate user adoption, supporting steady demand over the medium term. The impact is unlikely to produce a major price surge absent broader market catalysts, so effects should be modest but positive: improved utility → higher usage → incremental demand for SOL and ecosystem tokens.