Cash App, the payment application by Block, has introduced support for USDC stablecoin transfers on Ethereum, Solana, Polygon, and Arbitrum. Users can now send and receive USDC without incurring transaction fees, although the feature is not available to customers in New York State. Stablecoins received are automatically converted into USD balances, and users must complete identity verification and adhere to transaction limits.
This move marks a significant expansion for Cash App, which previously focused on Bitcoin-related services, including mining hardware and the BitKey self-custody wallet. Despite Jack Dorsey's earlier comments on stablecoins as "switching from one gatekeeper to another," the addition reflects increasing customer demand for stablecoin transactions.
Cash App Enables USDC Transfers Across Multiple Blockchains
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