Block, Inc.’s Cash App has added stablecoin payments to its roster of financial services. The financial services app now allows users to send and receive USDC on four blockchains: Ethereum, Solana, Polygon and Arbitrum. The company’s Bitcoin Product Lead, Miles Suter, said on X that “everything runs from your existing USD balance — no separate wallet, no managing multiple chains, no extra setup, and importantly no fees.” You simply send dollars from your wallet to a copy-pasted blockchain address, without any mention of stablecoins. That said, the company remains “singularly focused on bitcoin becoming the native currency of the internet,” Suter said. Block, Inc. Chairman and CEO Jack Dorsey remains…
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Jack Dorsey’s Square buys Credit Karma’s tax filing service for $50M
Crypto-friendly mobile payment service Cash App will soon help its U.S. users file their taxes
Square paid $50 million for Credit Karma’s tax filing service to integrate it into Cash App, its crypto-enabled mobile payments service.
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Square’s Cash App made $1.6B on Bitcoin transactions this quarter
The Q3 revenue of Square’s mobile finance application was up 11 times and is growing rapidly
In a shareholder letter Square released on Nov. 5, the company noted that “Cash App generated $1.63 Billion of bitcoin revenue and $32 million of” gross profit in Q3 2020. The company also highlighted that year-over-year the Bitcoin revenue increased 11 times while the revenue was up 15 times.
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Square’s Cash App adds small investor-friendly bitcoin buying feature
Jack Dorsey’s payments app now supports dollar-cost averaging, a small investor friendly, long-term investment strategy in which a set amount of Bitcoin is bought on a regular schedule
Square founder Jack Dorsey is aiming to make it easier for small investors to buy bitcoin in CashApp by setting up regular daily, weekly, or biweekly purchases at a set dollar amount.
