Block’s Cash App has quietly begun rolling out its much-anticipated stablecoin payment feature, a source familiar with the matter told CoinDesk on Wednesday. According to this person, the feature is now active for 25% of the Cash App’s nearly 60 million users, with plans to scale to 100% by the end of the week.
Block did not immediately respond to a CoinDesk request for comment.
The launch marks an unprecedented ideological shift for Block’s leadership and changes how 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 capitalization of stablecoins has reached a record $322 billion, surpassing the foreign exchange reserves of 95 countries, including developed economies such as the UK 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 shift in stance in March. The Bitcoin purist announced that his company was reluctant to give to stablecoins. “I don’t like that we want 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.”
For years, Dorsey framed Block’s crypto strategy around Bitcoin alone, supporting development of mining hardware and integrating the asset into products such as the Cash App.
The newly released integration treats stablecoins strictly as a payment method rather than investment infrastructure, according to a statement on the Cash App website.
Users can deposit Circles USDC stablecoins from external accounts to fund their fiat Cash App balance or withdraw funds as stablecoins to external accounts, using the blockchain solely as a modern transaction rail.
According to official product documentation, the feature supports USDC across 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 unavailable in New York and on sponsored accounts, verified users face strict caps: a daily sending limit of $2,000 ($5,000 weekly) and a weekly receiving limit of $10,000.
