Cash App just turned on stablecoin payments for 60 million users — get long Block (SQ)
Block (the company behind Cash App) is rolling out a stablecoin payment feature to its nearly 60 million users. 25% of users already have access and everyone will get it by the end of the week.
Idea
Cash App is one of the most popular payment apps in the U.S. with roughly 60 million active users, and it's now adding stablecoin payments — a feature that lets people send and hold digital dollars instantly. This is a major product launch because it brings crypto-style payments to a mainstream audience that may have never touched crypto before. The rollout is happening fast, with full availability expected within days, which could drive a spike in user engagement and transaction volume. Meanwhile, Mastercard also just received a New York crypto license today, signaling that regulators are warming to crypto integration by major financial companies — a tailwind for fintech stocks like Block.