Svmuu reports that Cash App, the payment application from Block, now allows users to send and receive Circle-issued USDC stablecoins on Ethereum, Solana, Polygon, and Arbitrum. These transfers are currently fee-free.
USDC stablecoins received via Cash App are automatically converted into U.S. dollar balances. This feature is not yet available to customers in New York State. Users must complete identity verification and are subject to transaction limits.
Block has previously focused primarily on Bitcoin, including the development of mining hardware and the self-custody wallet BitKey. Earlier this year, Jack Dorsey described stablecoins as “moving from one gatekeeper to another,” while acknowledging the growing customer demand.