Cash App’s 58M Users Can Now Pay With Bitcoin Instantly

Cash App is revolutionizing the use of Bitcoin for everyday payments, making it more accessible and user-friendly. The latest update allows users to pay with Bitcoin instantly, even if they don’t own any, by automatically converting their USD balance into Bitcoin for the merchant.

This new feature, called ‘Bitcoin Payments with USD,’ opens up Bitcoin transactions to all 58 million monthly Cash App users without affecting their Bitcoin holdings or incurring taxable events. Square merchants also benefit from this update, as they can now accept Bitcoin payments without any fees or chargebacks, thanks to the network’s operation without middlemen.

Users have the flexibility to choose any payment path they prefer, whether it’s USD to USD, BTC to BTC, BTC to USD, or USD to BTC, all powered by the open Bitcoin network. This move is expected to encourage merchants to accept Bitcoin payments to avoid card fees and connect millions more users to fast, low-cost, borderless payments.

In addition to Bitcoin payments, Cash App has introduced a Bitcoin Map feature that shows the locations of local merchants who accept BTC. This map allows customers to pay instantly via Lightning QR codes, further promoting the use of Bitcoin for daily transactions. Approximately 20% of Americans are open to using Bitcoin for everyday purchases, and Cash App aims to make this transition seamless for both consumers and businesses.

Furthermore, Cash App now supports stablecoins, enabling customers to send and receive digital dollars globally. Stablecoins maintain a one-to-one value with the U.S. dollar while facilitating near-instant transfers. Cash App will automatically convert received stablecoins into USD, providing users with a convenient and efficient way to transact digitally.

Miles Suter, Bitcoin Product Lead at Block, emphasized that Cash App is committed to building tools that make Bitcoin function as peer-to-peer cash, fast, open, and borderless. While stablecoins offer speed and stability, Bitcoin remains the platform’s foundation, with Cash App continuously enhancing features like Auto Invest to make investing in Bitcoin more accessible and affordable for users.

Square, the parent company of Cash App, recently launched Bitcoin payments for U.S. sellers, allowing millions of merchants to accept BTC through their terminals with no processing fees until 2027. This system enables instant transactions via the Lightning Network, showcasing Square’s commitment to driving Bitcoin adoption among businesses.

Despite criticism about centralization, Suter emphasized the company’s goal of enabling self-custody for users in the long run. Block Inc., under the leadership of Jack Dorsey, has evolved into a full-stack Bitcoin company, with subsidiaries like Bitkey, Proto, Spiral, and Tidal driving Bitcoin adoption across consumer and developer ecosystems.

With over 8,780 BTC in its treasury, Block continues to deepen its integration with Bitcoin, aligning its business strategy with the network’s long-term growth. The company envisions Bitcoin becoming everyday money and a universal financial infrastructure that enables truly global commerce, paving the way for a decentralized and borderless financial system.