The payment application Cash App, owned by Block Inc, has undergone a major update, providing users with new capabilities for instant cryptocurrency transactions. The latest features allow payments in Bitcoin even for those who do not have cryptocurrency in their balance, as well as sending and receiving stablecoins in real time.
This is reported by Business • Media
Instant Bitcoin Payments and Stablecoin Integration
The Bitcoin Payments with USD feature enables users to make payments in Bitcoin without the need to purchase cryptocurrency in advance. The system automatically converts US dollars from the user’s balance into Bitcoin for the seller, utilizing the Lightning Network. As a result, over 58 million Cash App users can conduct cryptocurrency transactions without additional taxes or reductions in their Bitcoin holdings.
Cash App has also launched Bitcoin Map — an interactive map that helps find businesses accepting Bitcoin and allows purchases to be paid directly through the app. This promotes the development of the local economy by engaging digital assets.
In the second quarter of 2023 alone, Cash App generated $44 million in gross profit from Bitcoin sales totaling $2.4 billion, indicating the growing popularity of cryptocurrencies in the payment sector.
“Bitcoin was created as peer-to-peer money, and Cash App is building the tools that allow it to function that way — quickly, openly, and without borders,” said Miles Suter, head of Bitcoin at Block Inc.
Stablecoins as a Bridge Between Traditional and Decentralized Finance
The app is also implementing support for stablecoins, which can be sent and received anywhere in the world. The system ensures automatic conversion of stablecoins into US dollars, guaranteeing value stability during transactions.
Miles Suter outlined the company’s vision regarding the role of stablecoins in the development of financial technology: stablecoins serve as an intermediary between the traditional financial system and decentralized money. According to him, the traditional fiat system is “Money 1.0,” Bitcoin is “Money 2.0,” while stablecoins act as “Money 1.5” — a tool that enhances the old system without competing with Bitcoin.
Suter also emphasized that the company’s strategic goal is to enable users to self-custody their assets. For this purpose, Bitkey has already been created, and a feature for automatic transfers to self-custody is planned for launch in 2026.
In October 2025, the Compass Coffee network of cafes in Washington became the first to test the new Bitcoin payment system through the Square terminal, marking an important milestone for the adoption of cryptocurrencies in the retail sector.