Block's Cash App expands crypto transfers to USDC across Solana, Ethereum and other chains
Block is widening Cash App's crypto functionality by enabling users to send and receive USDC across several blockchain networks. The rollout covers Solana, Ethereum, Polygon and Arbitrum, extending the app's digital asset reach beyond its long-standing bitcoin focus.
Highlights
- Cash App now enables users to transfer USDC stablecoins across multiple blockchains, including Solana and Ethereum, without additional fees or wallets.
- Block's Cash App, with 59 million monthly active users, adds USDC as its most significant crypto expansion since introducing bitcoin services.
- The integration of USDC follows Block's primarily bitcoin-focused approach, signaling a strategic expansion while maintaining bitcoin as its key objective.
Multi-chain USDC rollout for Cash App users
As reported by The Block, Cash App said on Wednesday that customers can now transfer USDC stablecoins on multiple blockchains through the mobile payments platform. Miles Suter, Bitcoin Product Lead at Block, said in a social media post that the service works from a user's existing U.S. dollar balance and does not require a separate wallet, extra setup or transfer fees.Cash App is operated by Block, the fintech company co-founded by Jack Dorsey, and says it has 59 million monthly active customers. The addition of USDC marks one of the company's biggest crypto feature expansions since it began offering bitcoin services several years ago.
Bitcoin strategy remains central
Suter said stablecoins serve a practical role but described bitcoin as "Money 2.0" and fiat currency as "Money 1.0," with stablecoins acting as a bridge between the two. He also said making bitcoin everyday money remains his top objective across Cash App, Square, Bitkey and Block.The move is notable because Block has generally limited its crypto offerings to bitcoin-related products. Its broader digital asset ecosystem includes the self-custody hardware wallet Bitkey, the bitcoin mining unit Proto and the open-source research and development arm Spiral, while Circle, the issuer of USDC, remains the largest U.S.-based stablecoin issuer.
In our earlier article on CleanSpark’s bitcoin mining expansion and stock outlook, we noted that the company was scaling capacity while branching into AI and high-performance computing data centers to diversify revenue. We also highlighted how non-cash valuation swings in its bitcoin holdings were weighing on reported earnings, even as operational momentum and bullish technical signals remained intact.
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