Block’s Cash App has quietly begun rolling out its long-awaited stablecoin payment feature, a source familiar with the matter told CoinDesk on Wednesday. According to this person, the feature is now live for 25% of Cash App’s nearly 60 million users, and there are plans to scale to 100% by the end of the week.
Block did not immediately respond to a request for comment from CoinDesk.
The launch marks an unprecedented ideological shift for Block’s leadership and changes the way the platform handles digital fiat currency.
The source familiar with the matter said the integration of alternative blockchain rails indicates that Block CEO Jack Dorsey, a historically staunch bitcoin maximalist, has changed his mind and now sees tangible value in these non-BTC networks.
As of this week, the total market value of stablecoins has reached a record $322 billion, surpassing the foreign exchange reserves of 95 countries, including developed economies such as the United Kingdom and Canada.
The integration of a stablecoin payment method was first announced on the Cash App website late last year, saying it would be available in 2026.
Dorsey explained his change of position in March. The bitcoin purist announced that his company was reluctantly giving in to stablecoins. “I don’t like that we support stablecoins, but our customers want to use them,” he said. “I don’t think it’s wise to move from one guardian to another.”
For years, Dorsey framed Block’s crypto strategy solely around Bitcoin, supporting the development of mining hardware and integrating the asset into products like Cash App.
The newly launched integration treats stablecoins strictly as a payment method rather than investment infrastructure, according to a statement on Cash App’s website.
Users can deposit Circle USDC stablecoins from external accounts to fund their Fiat Cash app balance or withdraw funds as stablecoins to external accounts, fully utilizing the blockchain as a modern transaction avenue.
According to the official product documentation, the feature supports USDC on four networks, including Solana, Ethereum, Polygon, and Arbitrum. Because these blockchain transactions are completely irreversible, any funds sent to incorrect addresses or unsupported networks will be permanently lost.
To use the feature, which is currently not available in New York or sponsored accounts, ID-verified users face strict limits: a daily sending limit of $2,000 ($5,000 weekly) and a weekly receiving limit of $10,000.
