Jack Dorsey's Block company recently announced that users will soon be able to send and receive stablecoins through its mobile platform, Cash App.

In an announcement released on Thursday, Cash App stated its plans to launch several features for cryptocurrency and blockchain users, including the ability to spend Bitcoin (BTC), convert fiat currency to BTC for payments, and send and receive stablecoins. According to Fortune magazine, these features are expected to be officially implemented in the app by early 2026.

The announcement stated, "Soon, millions of Cash App users will be able to make fast, low-cost payment transactions, even if they do not hold BTC."

While the app did not specify which stablecoins would be available for trading, the largest stablecoins by market capitalization currently include Tether's USDt and Circle's USDC. Circle CEO Jeremy Allaire praised the move, hinting that the company's stablecoin is expected to be used in the payment system on Cash App.

The announcement regarding stablecoins on Thursday came after Block executives announced the launch of BTC features on Square earlier this week.

Block co-founder Dorsey noted that merchants using the Square app can receive payments in BTC to BTC, BTC to fiat, fiat to BTC, or fiat to fiat. The company revealed that over 4 million merchants are currently using Square for payment transactions.

Miles Suter, Block's head of BTC products, commented on the new features of Cash App, stating, "BTC serves as the foundation of an open and borderless financial system, while stablecoins are an important bridge for the rapid transfer of digital dollars."

Related: The head of cryptocurrency exchange Kraken stated that they are not in a hurry to go public in the U.S.

Original: “Cash App plans to launch stablecoin trading features”

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