Cash App Phases USDC Payment Feature Rollout to 60 Million Users
Block's Cash App has begun a phased rollout of its USDC payment feature, currently available to 25% of nearly 60 million users, with plans to cover all users by this weekend.
The feature supports USDC on Solana, Ethereum, Polygon, and Arbitrum chains, allowing users to deposit USDC to recharge their Cash App fiat balance or withdraw funds in USDC to external accounts.
Source: Public Information
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Block has previously made significant inroads into cryptocurrency through Square and Cash App, and this large-scale rollout of the USDC feature continues its transition from Bitcoin to a stablecoin payment ecosystem, focusing on multi-chain support to reduce user gas costs and friction.
In terms of capital flow, Cash App is leveraging its base of 60 million users and fiat entry advantages to shift funds from traditional bank transfers to USDC on-chain flows, aiming to increase payment frequency on the platform, lower cross-border costs, and accumulate users and liquidity for future RWA and DeFi services.
Similar to fintech platforms like PayPal and Revolut that have previously integrated stablecoins, as well as brokers like Robinhood expanding into crypto, Cash App is currently at a critical stage of transforming from a retail payment tool into a super app for on-chain stablecoins.
Essentially, this represents a restructuring of the industry chain: mainstream consumer apps are massively integrating multi-chain USDC, with the mechanism being that stablecoins provide low-cost, instant cross-border settlement capabilities, accelerating the flow of capital from the traditional banking system to programmable stablecoin networks, and driving the evolution of the payment industry from centralized fiat accounts to on-chain hybrid financial infrastructure.
ABAB News · Cognitive Law
60 million users accessing USDC is more impactful than any airdrop.
The truly implemented stablecoin is not just talked about on-chain, but integrated into users' daily payments.
Leading payment platforms do not merely facilitate transfers; they turn on-chain assets into everyday currency.