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Cash App Brings USDC Payments to Millions

Guavy AI Editorial Team
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Cash App is expanding its services to include USDC payments for nearly 25% of its 60 million users. This rollout, which started on May 27th, marks a significant shift in the company's crypto strategy.

The feature allows users to deposit USDC from external wallets into their Cash App balance and withdraw funds as USDC to external accounts. Four blockchain networks are supported: Solana (SOL), Ethereum (ETH), Polygon, and Arbitrum.

Cash App CEO Jack Dorsey has acknowledged the shift in strategy, saying 'I don't like that we're going to support stablecoins but our customers want to use them.' The company has emphasized that this feature is a payment rail, not an investment tool.

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