Cash App just turned on stablecoin payments for 60 million people — ride Block's crypto move higher
Block (the company behind Cash App and Square) is rolling out a stablecoin payment feature to its roughly 60 million users. At the same time, Mastercard just got official approval from New York to offer crypto services — a sign that mainstream finance is going all-in on digital currencies.
Idea
Block is turning Cash App's 60 million users into stablecoin users — that's a massive instant customer base for crypto payments. The feature is already live for a quarter of users and will reach everyone by the end of the week. Meanwhile, Mastercard getting a New York crypto license confirms that the biggest payment networks are treating digital currencies as core infrastructure, not a side project. When mainstream companies with huge customer bases jump into a new product category, their stock tends to get a boost as investors price in future revenue growth.