Block's Cash App will launch stablecoin payment functionality in phases.

According to Mars Finance, Block's Cash App is gradually rolling out stablecoin payment functionality to its nearly 60 million users. Sources familiar with the matter revealed that the feature currently covers approximately 25% of users, with plans to achieve 100% full rollout this week. The core functionality allows users to deposit and withdraw USDC, freely transfer funds between external wallets and Cash App balances, and use stablecoins as a payment and settlement tool, rather than an investment product. It currently supports four blockchain networks: Solana, Ethereum, Polygon, and Arbitrum. Because on-chain transactions are irreversible, incorrect addresses or unsupported network transfers will result in permanent loss of funds. Block CEO Jack Dorsey previously stated that despite its long-standing Bitcoin stance, user demand for stablecoins has prompted the company to adjust its strategy.