{"id":706834,"date":"2026-05-31T19:29:19","date_gmt":"2026-05-31T19:29:19","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/706834\/"},"modified":"2026-05-31T19:29:19","modified_gmt":"2026-05-31T19:29:19","slug":"cash-app-rolls-out-stablecoin-payments","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/706834\/","title":{"rendered":"Cash App Rolls Out Stablecoin Payments"},"content":{"rendered":"

\u201cStablecoin send and receive is now available for all eligible customers on Cash App,\u201d the Block<\/a>-owned company said in a Wednesday (May 27) press release<\/a>. \u201c[S]tablecoins on Cash App convert to U.S. dollars automatically, meaning no additional setup is needed, and customers see one, unified balance in the app.\u201d<\/p>\n

Cash App supports USDC<\/a> stablecoins on the Solana<\/a>, Ethereum<\/a>, Polygon<\/a> and Arbitrum<\/a> blockchains, according to the release.<\/p>\n

\u201cWith Cash App, you can send and receive stablecoins directly from your Cash Balance,\u201d a statement<\/a> on the company\u2019s website said. \u201cThere is no separate stablecoin balance. When you receive stablecoins, they are instantly converted to dollars. When you send, we\u2019ll convert your dollar amount 1:1 to stablecoins.\u201d<\/p>\n

The launch is an \u201cunprecedented ideological shift for Block\u2019s leadership and changes how the platform handles digital fiat currency,\u201d CoinDesk reported<\/a> Wednesday.<\/p>\n

Integrating alternative blockchain rails indicates that Block CEO Jack Dorsey<\/a>, who has long been a \u201cstaunch bitcoin maximalist,\u201d has changed his thinking and now sees value in non-bitcoin networks, the report said, citing an unnamed source.<\/p>\n

Advertisement: Scroll to Continue<\/p>\n

Cash App first announced the integration of a stablecoin payment method on its website late last year, saying it would become available in 2026, according to the report. Then in March, Dorsey explained the shift in his stance.<\/p>\n

\u201cI don\u2019t like that we\u2019re going to support stablecoins, but our customers want to use them,\u201d he said, per the report. \u201cI don\u2019t think it\u2019s wise to go from one gatekeeper to another.\u201d<\/p>\n

The rollout is happening as stablecoins<\/a> are increasingly \u201cbeing positioned as the best-fit crypto payment mechanism,\u201d PYMNTS reported in February.<\/p>\n

Stablecoins are not replacing cards but are \u201cbeing absorbed into card infrastructure as a new settlement and funding source, allowing merchants to accept digital assets without ever holding them, as card networks and their partners do the heavy lifting in the background,\u201d the report said<\/p>\n

Monthly payment flows<\/a> via these cards have surpassed $1.5 billion, highlighting consumer usage, while overall crypto-linked card spending now comes to $18 billion annually, which indicates a potential migration from more speculative use cases to pure-play retail payments.<\/p>\n","protected":false},"excerpt":{"rendered":"\u201cStablecoin send and receive is now available for all eligible customers on Cash App,\u201d the Block-owned company said…\n","protected":false},"author":2,"featured_media":706835,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[64,63,6200,163004,6201,203,44,6628,14000,105,6834],"class_list":["post-706834","post","type-post","status-publish","format-standard","has-post-thumbnail","category-mobile","tag-au","tag-australia","tag-blockchain","tag-cash-app","tag-cryptocurrency","tag-mobile","tag-news","tag-pymnts-news","tag-stablecoins","tag-technology","tag-whats-hot"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/706834","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=706834"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/706834\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/706835"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=706834"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=706834"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=706834"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}