Block Brings USDC to 60 Million Cash App Users

• Block is rolling out USDC payments on Cash App to nearly 60 million users across four blockchain networks.
• CEO Jack Dorsey admitted customer demand drove the stablecoin move despite his longstanding bitcoin-only stance.
• The global stablecoin market hit a record $322 billion, exceeding reserves of 95 countries, including the UK and Canada.

Block has expanded its stablecoin push by introducing USDC support on Cash App. The feature is currently live for 25% of the platform’s nearly 60 million users. 

A Block spokesperson confirmed the phased rollout this week. Full availability is expected before the week ends. The move comes as the global stablecoin market hits a record $322 billion in total value.

Block Brings USDC Payments to Cash App on Four Networks

Block’s expansion covers USDC across Solana, Ethereum, Polygon, and Arbitrum. The company positions the feature strictly as a payments tool rather than an investment option. 

Users can deposit USDC from external wallets to top up their fiat Cash App balance. They can also withdraw funds as USDC directly to external accounts.

Strict transaction limits apply to all identity-verified users on the platform. Daily sending is capped at $2,000, with a $5,000 weekly sending limit in place. 

The weekly receiving limit stands at $10,000. These caps reflect Block’s cautious approach to expanding stablecoin access.

The feature is currently restricted in New York and unavailable on sponsored accounts. All blockchain transactions processed through Cash App are irreversible. 

Funds sent to incorrect addresses or unsupported networks cannot be recovered. Cash App has made this warning clear in its official product documentation.

The firm initially revealed the introduction of stablecoins on the Cash app on its official webpage during the latter part of last year, adding that this would happen in 2026.

This promise is finally being met through the recent staged rollout. This shows the cautious manner in which Block is diversifying from its Bitcoin-related operations.

Block CEO Jack Dorsey Concedes to Customer Demand for Stablecoins

Block’s stablecoin expansion marks a clear shift in CEO Jack Dorsey’s public position. In March, Dorsey openly addressed the pressure his company faced from its own user base. 

“I don’t like that we’re going to support stablecoins but our customers want to use them,” he said. 

He then added, “I don’t think it’s wise to go from one gatekeeper to another,” raising concern about financial dependency on new networks.

Dorsey built Block’s crypto identity almost entirely around Bitcoin for years. The company invested in Bitcoin mining hardware and wove the asset into multiple products. 

Supporting Solana, Ethereum, Polygon, and Arbitrum signals a broader blockchain strategy. However, Block frames this expansion as a response to market demand, not an ideological pivot.

The global stablecoin market now exceeds the foreign exchange reserves of 95 countries. That list includes developed economies such as the United Kingdom and Canada. 

This scale helps explain why Block moved forward despite Dorsey’s reservations. Stablecoin adoption has reached a point where major fintech platforms can no longer overlook it.

Block’s move through Cash App puts it alongside other platforms racing to capture stablecoin payment volume. 

With support across four networks and a large existing user base, adoption could grow quickly. All users are expected to gain access by the end of this week.