[Cash App to Transform into a Comprehensive Digital Bank: Focusing on Stocks, ETFs, Customized Debit Cards, and Other Financial Products] According to Bloomberg, Block, Jack Dorsey's fintech company, announced it will transform its crypto and payments platform, Cash App, into a comprehensive digital bank. The bank aims to increase user activity and customer retention through products such as stock, ETF, and Bitcoin trading, short-term loans, high-yield savings, and customized debit cards. Currently, Cash App has 9.4 million users who use it as their primary banking tool, a 17% year-over-year increase. However, Cash App still faces stagnant user growth and compliance pressures. Multiple lawsuits have accused criminals of using the platform for fraud, identity theft, money laundering, and other activities. In August, Block disclosed that it had doubled its potential settlement legal provisions to $526 million against a multi-year investigation by the U.S. Department of Justice (DOJ).