Cash App rolls out USDC payments to 15 million users in largest stablecoin integration

Block Inc.'s Cash App has started rolling out USDC payments to 25 percent of its nearly 60 million users, turning the consumer finance app into a stablecoin payment rail in what is one of the largest such integrations in the U.S. market.

"This launch gives tens of millions of users a dollar-backed payment method designed for faster and lower-cost transfers," a Block spokesperson said.

Users can deposit Circle's USDC from external accounts to fund their Cash App balance or withdraw funds as stablecoins and send them to external bank accounts. The rollout uses Solana as the initial network. Sending limits are set at $2,000 daily and $5,000 weekly, with a $10,000 weekly receiving cap. All users are expected to gain access by the end of this week.

The move comes as stablecoins reach a record $322 billion in total market value, surpassing the foreign exchange reserves of 95 countries including the U.K. and Canada. Block is treating stablecoins as a payment method rather than an investment, marking a strategic shift for a company whose crypto strategy has historically centered on Bitcoin.

The rollout follows Block's earlier plan to add stablecoin support in early 2026. Cash App already offers Bitcoin buying, selling, and transfers, but USDC adds a dollar-pegged payment rail that competes directly with traditional bank transfers and peer-to-peer payment apps.

Block joins a growing list of major payments firms expanding into stablecoins. PayPal, Visa, and Stripe have all launched or expanded stablecoin services over the past year, driven by clearer U.S. regulatory frameworks and rising demand for digital dollar settlement beyond crypto trading.

The stablecoin market's $322 billion capitalization represents a more than 50 percent increase from a year earlier, according to DefiLlama data. USDC, the second-largest stablecoin by market cap, has seen its supply grow as regulatory clarity in the U.S. and Europe encourages institutional adoption.

For Block, the integration opens a new revenue channel. Cash App generated $4.4 billion in Bitcoin-related revenue in 2024, but margins on crypto transactions are thin. Stablecoin payments could generate fee income from transaction processing and currency conversion, similar to traditional payment rails.

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