Cash App adds USDC stablecoin for 60 million users

Cash App, the popular payments platform operated by Block, Inc., has begun rolling out support for the USDC stablecoin, enabling its nearly 60 million monthly active users to send and receive the digital dollar across multiple blockchain networks. The phased launch, which started this week, is currently available to approximately 25 percent of users, with full access expected by the weekend.

The new feature allows users to deposit and withdraw USD Coin on the Solana, Ethereum, Polygon, and Arbitrum blockchains directly from their existing Cash App USD balance, with no additional fees charged by the platform. Incoming USDC is automatically converted into a standard dollar balance within the app. The company emphasized that on-chain transactions are irreversible, warning that funds sent to an incorrect address or unsupported network will be permanently lost.

This integration marks a significant expansion for Cash App, which has historically focused its cryptocurrency offerings on Bitcoin. Miles Suter, Block's Bitcoin Product Lead, announced the upgrade, stating the process requires no separate wallet or management of multiple chains. He described the experience as seamless,...