Overview
- Cash App began enabling USDC payments to about 25% of users on Wednesday, May 27, 2026—roughly 15 million people—with Block saying it plans to enable the rest of its nearly 60 million users within days.
- The feature lets verified users send and receive USDC on Solana, Ethereum, Polygon and Arbitrum, automatically converts received USDC into U.S. dollars inside the app, and is fee‑free at launch.
- Access requires identity verification and is limited by caps—$2,000 daily/$5,000 weekly sending and $10,000 weekly receiving—and the product is not available in New York or on sponsored accounts.
- Cash App’s on‑chain transfers are irreversible, so sending funds to the wrong address or the wrong network can cause permanent loss, a key consumer‑safety risk highlighted in the product documentation.
- The rollout marks a pragmatic shift for Block from a near‑exclusive Bitcoin focus toward stablecoin rails, gives Circle meaningful mainstream distribution, and could accelerate stablecoin use in everyday payments if regulatory conditions hold.