Cash App brings stablecoin payments to 60 million users — long Block and Mastercard on the crypto adoption wave
Block (the company behind Cash App) is rolling out stablecoin payments to its nearly 60 million users, and Mastercard just got a New York crypto license. Together these moves signal that crypto payments are going mainstream in a real way.
Idea
Cash App is bringing stablecoin payments to 60 million everyday users — that's one of the largest mainstream crypto on-ramps we've seen. By the end of this week, all Cash App users will have access, which could dramatically increase engagement and transaction volume. At the same time, Mastercard landing a New York BitLicense confirms that the biggest payments companies in the world are going all-in on crypto infrastructure. Block stands to benefit directly from increased usage of Cash App, and Mastercard benefits as crypto payments infrastructure matures. This is a mainstream adoption story that could drive both stocks higher over the coming weeks.