Cash App just turned on stablecoins for 60 million people — buy Block before the crowd catches on
Block (the company behind Cash App and Square) is rolling out a stablecoin feature to all 60 million Cash App users by the end of this week. A quarter of users already have access.
Idea
Giving 60 million mainstream users one-tap access to a stablecoin is one of the largest crypto on-ramps we have seen. Cash App's user base skews younger and is already comfortable moving money digitally, which makes adoption likely to be fast. When a fintech platform this big launches a new financial product, it tends to boost both revenue expectations and investor enthusiasm in the short term. Block's stock could benefit from the narrative alone, and Coinbase — as the dominant U.S. crypto exchange — stands to gain from increased stablecoin activity across the ecosystem.