Block expanded its Cash App to the 6-12 age group with a savings interest rate of 3.25%, but completely removed the Bitcoin feature from managed accounts.
Cash App , a fintech platform owned by Block Inc., has just launched a managed account for children aged 6 to 12 with a savings interest rate of 3.25%, one of the most competitive rates in the youth finance segment today.
However, it's worth noting that these accounts don't include access to Bitcoin, even though this is a core feature of Cash App for adult users and a hallmark of Block 's brand under the leadership of Jack Dorsey, one of the most prominent Bitcoin advocates in the tech world.
By design, parents have full control over the account, including approving money transfers from up to five trusted contacts they designate. Once the child turns 13, the account can be converted into a juvenile sponsored account, which allows access to Bitcoin if parents proactively enable this feature. The service is not currently available in New York State.
This is the perfect time, as 89% of Alpha-Generation children are saving.
The decision to remove Bitcoin from young children's accounts is not just a technical choice, but also has clear legal and commercial implications. Block needs to lower the barriers to parental acceptance of the product, while early exposure to crypto assets remains a sensitive regulatory area in many states.
Instead, the company focuses on the story of building financial habits, a market proving to have real demand: a Harris Poll survey conducted by Block shows that 89% of Alpha kids are actively saving, while 77% of parents have started talking to their children about financial management. The top savings goals for this group are digital spending and games at 34%, followed by personal technology and collectible toys, both at 32%.
The new product was launched amidst Block ongoing and significant restructuring. Last February, the company laid off more than 4,000 employees, equivalent to approximately 40% of its workforce, as it shifted towards an AI-based operating model.
Block stock rose about 1.4% after the announcement, trading below $75 per share. With over 5 million teenagers using Cash App monthly, expanding to the 6–12 age group is a logical step to retain users early on—and turn current parents into gateways for the next generation of customers.
