Block has initiated the rollout of its stablecoin payment feature on Cash App, now available to 25% of its nearly 60 million users, with full access expected by week's end.
As reported by a source familiar with the situation, the stablecoin functionality has already been activated for a quarter of users, and will be extended to all by the conclusion of the week.
By Olivier Acuna|Edited by Nikhilesh De May 27, 2026, 2:26 p.m. 2 min read
Jack Dorsey (Joe Raedle/Getty Images)Key Points:
- Block's Cash App is rolling out USDC stablecoin payments to about 25% of its nearly 60 million users, with plans to reach all users by the week's end.
- This development signifies a notable change for CEO Jack Dorsey, who has historically championed Bitcoin exclusively, now recognizing the demand for stablecoins.
- Cash App will enable USDC transactions on Solana, Ethereum, Polygon, and Arbitrum, imposing strict transaction limits, while noting that blockchain transfers are irreversible and the service is not available in New York or for sponsored accounts.
Cash App, a service under Block, has begun the rollout of its eagerly awaited stablecoin payment feature, according to a source who spoke to CoinDesk. This feature is currently accessible to 25% of Cash App's user base, with a goal to extend availability to all users by the end of the week.
Block has not yet responded to CoinDesk's inquiry regarding this launch.
This rollout signifies a significant ideological transition for Block's leadership, altering the way the platform engages with digital fiat currencies.
The source indicated that the inclusion of alternative blockchain networks suggests a shift in perspective for Block CEO Jack Dorsey, known for his strong advocacy of Bitcoin, now recognizing the practical benefits of these alternative platforms.
Currently, the total market valuation of stablecoins has reached an all-time high of $322 billion, surpassing the foreign exchange reserves of 95 nations, including developed countries like the UK and Canada.
The announcement of the stablecoin payment feature was made on the Cash App website late last year, indicating it would be available in 2026.
Dorsey elaborated on his change of heart in a statement from March, expressing reluctance about adopting stablecoins but acknowledging customer demand: "I don’t like that we’re going to support stablecoins but our customers want to use them. I don’t think it’s wise to go from one gatekeeper to another."
For years, Dorsey has positioned Block's crypto strategy around Bitcoin, investing in mining hardware and integrating the cryptocurrency into products like Cash App.
The new stablecoin integration will be treated as a payment mechanism rather than an investment vehicle, as stated in documentation on the Cash App site.
Users will have the ability to deposit USDC stablecoins from outside accounts to add to their Cash App fiat balance or withdraw funds as stablecoins to external accounts, fully utilizing blockchain technology as a transaction method.
According to the official product details, the feature supports USDC across four networks: Solana, Ethereum, Polygon, and Arbitrum. As transactions on these blockchains are irreversible, any funds sent to incorrect addresses or unsupported networks will be permanently lost.
To access this feature, which is not available in New York or for sponsored accounts, identity-verified users face transaction limits of $2,000 per day, $5,000 per week for sending, and $10,000 per week for receiving.
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Key Points:
- Wall Street clearing powerhouse DTCC plans to connect its tokenized securities platform with Stellar by 2027.
- This move expands DTCC's multi-chain strategy for blockchain-based securities settlement.
- Wall Street firms and exchanges are accelerating initiatives for tokenized stocks and Treasuries.