Block's Cash App Rolls Out Stablecoin Payments to 25% of Users
Block's Cash App has quietly begun rolling out its stablecoin payment feature, now active for 25% of its nearly 60 million users, with full rollout expected by end of week. The feature supports USDC on Solana, Ethereum, Polygon, and Arbitrum, allowing users to deposit stablecoins to fund their fiat balance or withdraw to external accounts. This marks a significant ideological shift for Block CEO Jack Dorsey, a known bitcoin maximalist, who previously opposed non-BTC networks. The integration treats stablecoins strictly as a payment method, not investment infrastructure. Users face daily and weekly limits: $2,000 daily ($5,000 weekly) sending limit and $10,000 weekly receiving limit. The feature is unavailable in New York and on sponsored accounts. This move comes as stablecoin market cap hits a record $322 billion, surpassing foreign exchange reserves of 95 countries.
Key facts
- Stablecoin payment feature now active for 25% of Cash App's 60M users, full rollout by week's end.
- Supports USDC on Solana, Ethereum, Polygon, and Arbitrum networks.
- Jack Dorsey, a bitcoin maximalist, shifted stance to integrate non-BTC networks.
- Users face $2,000 daily/$5,000 weekly sending limit and $10,000 weekly receiving limit.
- Feature unavailable in New York and on sponsored accounts.