Cash App is putting stablecoins in 60 million wallets — get ahead of the Block (SQ) rally
Block (the company behind Cash App) is rolling out a new stablecoin payment feature to all 60 million Cash App users by the end of this week. This is a major step toward making crypto payments mainstream for everyday consumers.
Idea
Cash App has 60 million users and is now giving all of them access to stablecoin payments — that's a massive mainstream crypto on-ramp. The rollout is happening right now, with full access expected by the end of the week, so the catalyst is immediate rather than speculative. When a well-known fintech company puts crypto tools into the hands of tens of millions of regular consumers, investors tend to re-value the stock higher. The broader crypto sentiment is also strong right now, with Mastercard getting a New York crypto license the same week, which adds tailwinds to any company pushing deeper into digital assets.