Block’s payments app, home to 59 million monthly active users, now supports sending and receiving USDC across four blockchain networks with no wallet setup required, even as Jack Dorsey admits he doesn’t like it.
Cash App, the payments platform owned by Block, the financial technology company co-founded by Jack Dorsey, launched support for sending and receiving USDC on Wednesday, offering fee-free stablecoin transfers across four blockchain networks with no separate wallet or crypto setup required.
Users can now send and receive USDC, the dollar-pegged stablecoin issued by Circle, on Solana, Ethereum, Polygon, and Arbitrum. Transfers settle directly from a user’s existing USD balance, with USDC auto-converting on both send and receive. The no-fee offer is available for a limited time only. The feature is not available to New York residents.
The launch marks the full rollout of a plan The Defiant first covered in November, when Cash App announced it would add stablecoin support early this year, making stablecoins “interoperable with a customer’s USD cash balance.”
Cash App had around 59 million monthly active users as of the fourth quarter of 2025, according to Block’s earnings filing.
Dorsey Doesn’t Like This
The stablecoin push has been an uncomfortable one for Dorsey, a longtime Bitcoin maximalist who has described Bitcoin as the internet’s native money protocol and predicted its price will hit at least $1 million by 2030.
In a March interview with WIRED, Dorsey acknowledged the expansion while making clear that it reflected customer demand rather than a change in his own views.
“I don’t like that we’re going to support stablecoins but our customers want to use them,” he said. “I don’t think it’s wise to go from one gatekeeper to another.”
Miles Suter, Bitcoin product lead at Block, struck a different tone on Wednesday.
“Making Bitcoin Everyday Money remains my top goal,” he wrote on X.
In a separate post, he described the integration as “the most seamless in the world,” noting that everything runs from a user’s existing USD balance with no separate wallet, no chain management, and no fees.
Suter positioned stablecoins as infrastructure that gets users comfortable with internet-native money rails, one step short of Bitcoin.
“Stablecoins upgrade the financial infrastructure that Cash App is already built on,” he wrote. “They get people comfortable moving money on internet-native rails. And once people are on open rails, bitcoin is a step away.”
How It Works
The feature requires no blockchain address management and no additional app.
The company said the underlying crypto infrastructure is hidden “as far away as possible within the app,” keeping Cash App’s interface clean.
Cash App’s own disclaimer warns that sending stablecoins to an address on an incompatible network, or sending an unsupported asset to any address, will result in permanent and irreversible loss of funds.
A Crowded Stablecoin Moment
The launch comes as dollar-pegged stablecoins push deeper into mainstream consumer finance.
The total stablecoin market cap exceeds $240 billion, with USDC holding roughly 27% of that market, according to DefiLlama data. USDC’s circulating supply has grown to approximately $76 billion across more than 30 blockchains, according to CoinGecko.
Earlier Wednesday, SoFi became the first US national bank to embed a proprietary stablecoin in a retail banking app, rolling out SoFiUSD to its 14.7 million members. PayPal launched its own dollar-pegged stablecoin, PYUSD, in 2023. Stripe re-added support for crypto payments, including stablecoins, in 2024.
The activity follows the GENIUS Act, signed into law by President Trump on July 18, 2025, the first federal framework for payment stablecoins in the US. Implementing regulations are required to be issued by July 18.
