CashApp users will now be able to make their own transfers via stablecoins and BTC, as per an official press release.
The update comes as part of a larger rollout of 11 product updates that were focused on peer-to-peer functionality, cryptocurrency payments, commerce, and banking. Customers who use CashApp can now use BTC to make payments to merchants or in store.
“We believe that bitcoin is the future of the financial ecosystem, but to truly become everyday money, it needs to be more flexible and easier to use,” said Bitcoin product lead at Block, Miles Sutter.
“Bitcoin was created to be an electronic peer-to-peer cash system, and Cash App is building new tools that help make bitcoin work as it was intended: open, fast, and borderless money that works for everyone.”
Another key product announcement alongside the cryptocurrency integration was the CashApp Green addition, which allows users of the app to access benefits by making deposits of $300 per month or by spending $500 or more through the Cash App card or Cash App pay.