Cash App goes stablecoin for 60 million users — jump on Block before the crowd
Block (the company behind Cash App) is rolling out stablecoin payments to all 60 million of its users this week. On the same day, Mastercard received a New York crypto license, and Bitcoin held steady despite a massive $1.3 billion institutional sell-off.
Idea
Block is turning Cash App — already on 60 million phones — into a crypto payments gateway by rolling out stablecoin features to every user by end of this week. That is a massive mainstreaming moment for digital-asset payments. At the same time, Mastercard just secured a New York BitLicense, signaling that the biggest payment networks are going all-in on crypto infrastructure. Meanwhile, Bitcoin barely flinched when a $1.3 billion BlackRock ETF position was sold, which tells you underlying demand is extremely strong. When a stock with a huge consumer base launches a new feature this significant, it tends to re-price higher over the following weeks.