CashApp supports USDC stablecoin transactions on networks such as Ethereum

Block's payment application CashApp already supports users to send and receive USDC stablecoins issued by Circle on Ethereum, Solana, Polygon and Arbitrum. There is currently no handling fee for relevant transfers. The stablecoins received by CashApp are automatically converted into US dollar balances. This feature is not available to customers in New York State for the time being, and users need to complete authentication and be subject to transaction limits. Block has previously focused on Bitcoin, including developing mining hardware and self-managed wallet BitKey; Jack Dorsey said earlier this year that stablecoins are "moving from one gatekeeper to another," while acknowledging the growth in customer demand.