Cash App rolls out USDC transfers to nearly 60 million users

Block's Cash App has begun rolling out support for USD Coin (USDC), enabling deposits, withdrawals and payments across Solana, Ethereum, Polygon and Arbitrum for its user base of nearly 60 million monthly active customers. The company said the rollout started this week and has reached about 25% of Cash App's monthly active users so far, with full availability expected by the end of the week. Block Bitcoin Product Lead Miles Suter confirmed the launch in social media posts, saying customers can move USDC directly from their existing USD balances without setting up separate wallets or juggling multiple blockchain systems. He added that transfers currently come with no additional fees. Cash App positioned USDC primarily as a payments and settlement tool rather than a yield product, framing the stablecoin as blockchain-linked digital money instead of an investment asset. The move comes as U.S. policymakers continue debating stablecoin oversight, with references to approaches such as the SEC's treatment and the CLARITY Act framework that largely categorize stablecoins as payment instruments rather than investment contracts. USDC is issued by Circle, the largest U.S.-based stablecoin company. The integration brings one of the most widely used dollar-backed digital assets into a mainstream payments app. Suter also tied stablecoins to Block's broader strategy that remains centered on Bitcoin. In one post, he described fiat currency as "Money 1.0," stablecoins as the bridge, and Bitcoin as "Money 2.0," while reiterating that Bitcoin remains the primary focus across Cash App, Square, Bitkey and other Block products. Alongside the USDC rollout, Block announced additional Bitcoin-related updates, including a touchscreen version of its Bitkey wallet, Proof of Reserves support across Cash App and Square, and a Bitcoin tap-to-pay feature unveiled at the Bitcoin Las Vegas event. The launch lands as major payments networks expand stablecoin activity. Visa and Mastercard have continued to broaden stablecoin-related payment services over the same period. In the broader market, total stablecoin supply recently topped $300 billion. Data showed Tether's USDT supply rose by more than $5 billion over the past month, while the combined supply of Circle's USDC, Ethena's USDe and PayPal's PYUSD fell by about $4.2 billion. Despite those shifts, Cash App's integration extends stablecoin access to millions via an existing consumer finance platform. The original article appeared on The Coin Republic.