Cash App Plans Full Digital Bank With Stocks, ETFs and 9.4M Primary Banking Users
Cash App will expand into a full service digital bank with stock and ETF trading, short term loans, high yield savings and customized debit cards, Block said on Oct 30. Cash App has 9.4 million primary banking users, up 17% year over year, and generated nearly $4 billion gross profit this year, 64% of Block revenue. Block applied to the OCC in September to form Builders Bank & Trust NA.
