Cash App to unlock stablecoin transactions ’soon’

Jack Dorsey’s Block announced that users will soon be able to send and receive stablecoins through its mobile platform Cash App.

In a Thursday notice, Cash App announced plans to release several features for crypto and blockchain users, including the ability to spend Bitcoin (BTC), convert fiat into BTC payments and send and receive stablecoins. Fortune reported that the features could be implemented on the app in early 2026.

“Soon, millions of Cash App customers will be able to make fast, low-cost payments even if they don’t hold Bitcoin,” said the notice.

Though the app did not specify which stablecoins might be available for transactions, the largest ones by market capitalization include Tether’s USDt (USDT) and Circle’s USDC (USDC). Circle CEO Jeremy Allaire praised the move, suggesting that he expected to see the company’s stablecoin used for payments on Cash App.

Related: BNY launches money market fund to hold reserves for US stablecoin issuers

Rundown of Bitcoin features

The Thursday notice on stablecoins followed announcements from executives connected to Block earlier this week, which included the rollout of Bitcoin features on Square.

Dorsey, the co-founder of Block, said merchants using the Square app can receive Bitcoin to Bitcoin, Bitcoin to fiat, fiat to Bitcoin or fiat to fiat payments. According to the company, more than four million sellers use Square for payments.

“Bitcoin serves as the foundation for an open and borderless financial system, while stablecoins serve as a stepping stone to quickly move digital dollars,” said Miles Suter, Block’s Bitcoin product lead, on the Cash App rollout.

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