Phantom's stablecoin CASH reached over $100 million in supply just two months after its launch, driven by new features and incentives. The wallet introduced a fee-free Cash Account and partnered with Kamino for a growth initiative, boosting transactions significantly. In contrast, MetaMask's mUSD briefly hit the same milestone but has since declined to about $25 million.

Grab has signed a memorandum of understanding with StraitsX to develop a Web3 settlement layer that enables stablecoin transactions within its app. This system aims to streamline cross-border payments for users in Southeast Asia, allowing them to hold and spend StraitsX tokens directly. Regulatory approval is needed before implementation can begin.

MetaMask has introduced a new feature called Stablecoin Earn, allowing users to earn passive income by depositing stablecoins like USDC, USDT, or DAI into the Aave lending protocol directly within the MetaMask Mobile App. Users can withdraw their earnings anytime with no additional fees, maintaining full control over their assets without any lock-in period.