Ethereum · Bitcoin · The Block
Cash App lets users send USDC stablecoins on chains like Solana and Ethereum
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Cash App, the popular mobile payment platform run by Block, Inc., said Wednesday that users can now send and receive USDC stablecoins on multiple blockchains.
Key facts
- Overall, the total stablecoin supply recently surpassed $300 billion, with market-leading Tether's USDT adding over $5 billion over the past month, while the supply of Circle's USDC, Ethena's USDe
- While Suter sees the utility of stablecoins, he said Wednesday that bitcoin is "Money 2.0," fiat is "Money 1.o" and stablecoins are the bridge between the two
- Cash App says it has 59 million monthly active customers
- Cash App is operated by Block, Inc., the fintech company co-founded by Jack Dorsey
Summary
Block, Inc. Bitcoin Product Lead Miles Suter took to social media to announce the upgrade, saying Cash App customers can now transfer on Solana, Ethereum, Polygon and Arbitrum. Cash App is operated by Block, Inc., the fintech company co-founded by Jack Dorsey. Dorsey is one of the most prominent Bitcoin maximalists in tech and finance, and Block has typically restricted its crypto-related features to Bitcoin tools. The mobile payment company's upgrade comes as banks, fintechs and payment companies invest in or explore stablecoins.