Cash App just turned on stablecoin payments for 60 million people — long Block
Block (the company behind Cash App and Square) just started rolling out a dollar-pegged crypto payment feature to its nearly 60 million Cash App users. By the end of this week, every user will have access.
Idea
Block is turning Cash App from a simple payments tool into a crypto-powered financial platform by giving all 60 million users access to stablecoin payments. This is one of the largest mainstream crypto rollouts ever — for context, that's more users than most major U.S. banks. Mastercard also just received a New York crypto license the same day, signaling that regulators are warming up to big companies embedding crypto into everyday payments. If even a fraction of Cash App's users start using stablecoins for transfers and purchases, Block's revenue from transaction fees could get a meaningful boost. The stock tends to move big on product catalysts like this.