[Cash App to Support Stablecoin Sending and Receiving Functionality Early Next Year] According to Fortune, Block's Cash App will launch stablecoin sending and receiving functionality early next year. Each account will be assigned a blockchain address, and stablecoins received on-chain will automatically convert to USD within the app. When USD in the app is sent out to the blockchain, it will be converted back into stablecoins. The specific stablecoins and blockchain networks supported have not been disclosed. Additionally, it was announced that users can pay merchants in Bitcoin without holding Bitcoin themselves by scanning a supported QR code, where cash will automatically convert and pay in Bitcoin. Block stated that its principle is to remain blockchain- and coin-neutral. Earlier this week, it was reported that Square launched Bitcoin payment functionality, allowing merchants to freely choose between BTC or fiat currency for settlement.