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    "date": "2026-05-28T09:44:57",
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    "title": {
        "rendered": "Cash App Now Supports Stablecoins, Despite Bitcoin Maxi Jack Dorsey’s ‘Gatekeeper’ Gripes"
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        "rendered": "<div>\n<div>\n<h4 color=\"#333\">In brief<\/h4>\n<ul>\n<li>Cash App has introduced fee-free USDC stablecoin transactions across Ethereum, Solana, Polygon, and Arbitrum.<\/li>\n<li>Unlike Venmo, Cash App automatically converts incoming stablecoins into standard U.S. dollar balances.<\/li>\n<li>The rollout introduces broader multi-chain utility to Block&#8217;s payments ecosystem, which has previously focused on Bitcoin.<\/li>\n<\/ul>\n<\/div>\n<p><span>Cash App has begun supporting stablecoin transactions on networks including <\/span><a href=\"https:\/\/decrypt.co\/resources\/what-is-ethereum-quickly-explained-four-minute-guide\" target=\"_blank\"><span>Ethereum<\/span><\/a><span> and <\/span><a href=\"https:\/\/decrypt.co\/resources\/what-is-solana-a-scalable-decentralized-network-for-dapps\" target=\"_blank\"><span>Solana<\/span><\/a><span>, a major crypto milestone for the popular payments platform previously dedicated to <\/span><a href=\"https:\/\/decrypt.co\/resources\/what-is-bitcoin-four-minute-instant-guide-explainer\" target=\"_blank\"><span>Bitcoin<\/span><\/a><span> under maximalist Jack Dorsey.<\/span><\/p>\n<p><span>In addition to the aforementioned blockchains, Cash App users have the ability to send and receive Circle\u2019s USDC on Ethereum <\/span><a href=\"https:\/\/decrypt.co\/resources\/what-are-layer-2-networks-and-sidechains-ethereum-scaling-explained\" target=\"_blank\"><span>scaling networks<\/span><\/a> <a href=\"https:\/\/decrypt.co\/resources\/what-is-polygon-matic-and-why-it-matters-for-ethereum\" target=\"_blank\"><span>Polygon<\/span><\/a><span> and <\/span><a href=\"https:\/\/decrypt.co\/resources\/what-is-arbitrum-speeding-up-ethereum-using-optimistic-rollups\" target=\"_blank\"><span>Arbitrum<\/span><\/a><span>. There are currently no fees involved in such transfers, according to the payments platform\u2019s <\/span><a href=\"https:\/\/cash.app\/help\/us\/en-US\/31115-stablecoins\" target=\"_blank\"><span>website<\/span><\/a><span>.<\/span><\/p>\n<p><span>Unlike some competitors, stablecoins received by Cash App users are automatically converted into dollars, represented as standard balances. Currently, PayPal\u2019s Venmo records users\u2019 holdings of its PYUSD stablecoin alongside other digital assets under a crypto tab.<\/span><\/p>\n<p><span>Cash App\u2019s website notes that stablecoins aren\u2019t available yet for customers in New York, and users must verify their identity while being subject to transaction limits. The caveats reflect Block\u2019s cautious approach to navigating an environment that faces growing competition following the passage of federal legislation for stablecoins last year.<\/span><\/p>\n<p><span>Under Dorsey, who is among Bitcoin\u2019s most visible and outspoken advocates, Block has poured resources into the development of mining hardware and BitKey, a self-custodial wallet. Those moves have aligned with his longstanding goal of promoting Bitcoin as \u201ceveryday money.\u201d<\/span><\/p>\n<p><span>Dorsey critiqued stablecoins earlier this year as shifting \u201cfrom one gatekeeper to another,\u201d while acquiescing that the technology has seen growing demand from customers. He has long prized Bitcoin as an open protocol for money transmission.<\/span><\/p>\n<p><span>In March, Block-owned payments processor Square <\/span><a href=\"https:\/\/decrypt.co\/362770\/jack-dorsey-square-enables-bitcoin-payments-millions-sellers\" target=\"_blank\"><span>flipped a switch<\/span><\/a><span> that enabled Bitcoin payments by default for U.S. sellers. Previously, the model was opt-in, offering instant settlement via Bitcoin\u2019s <\/span><a href=\"https:\/\/decrypt.co\/resources\/bitcoin-lightning-network\" target=\"_blank\"><span>Lightning Network<\/span><\/a><span>. When the service debuted in November, merchants were granted the ability to automatically convert card sales into Bitcoin as well.<\/span><\/p>\n<p><span>That month, Cash App unveiled stablecoin payments, billing the expansion as a way for customers to make fast, low-cost payments regardless of their network of choice. At the time, Block Bitcoin Product Lead Miles Suter described stablecoins as a \u201ccomplementary option for our customers,\u201d declaring that Cash App will always be Bitcoin-first by design.<\/span><\/p>\n<p><span>Block shares changed hands around $71.55 on Wednesday, rising nearly 3.5% midday, according to <\/span><a href=\"https:\/\/finance.yahoo.com\/quote\/XYZ\/\" target=\"_blank\"><span>Yahoo Finance<\/span><\/a><span>. The company\u2019s stock price has rallied nearly 10% year-to-date. Over the same period, Bitcoin\u2019s price has declined over 14% to $74,800, according to <\/span><a href=\"https:\/\/decrypt.co\/price\/bitcoin\" target=\"_blank\"><span>CoinGecko<\/span><\/a><span>.<\/span><\/p>\n<p><span>As of March 31, Block held 9,032 Bitcoin worth $675 million on its balance sheet for investment purposes. That makes the company the 14th largest publicly traded corporate holder of Bitcoin, according to <\/span><a href=\"https:\/\/bitcointreasuries.net\/\" target=\"_blank\" rel=\"nofollow external noopener\"><span>Bitcoin Treasures<\/span><\/a><span>, situated behind the estimated holdings of Trump Media &#038; Technology Group.<\/span><\/p>\n<div>\n<h3>Daily Debrief Newsletter<\/h3>\n<p>Start every day with the top news stories right now, plus original features, a podcast, videos and more.<\/p>\n<\/div>\n<\/div>",
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        "rendered": "<p>In brief Cash App has introduced fee-free USDC stablecoin transactions across Ethereum, Solana, Polygon, and Arbitrum. Unlike Venmo, Cash App [&hellip;]<\/p>",
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