Jack Dorsey's Cash App will add stablecoin support and bitcoin payment capabilities

Cash App, a payment platform, has announced that it will expand the scope of its cryptocurrency services. It plans to launch a stablecoin support feature in early 2026, allowing users to send and receive cryptocurrencies pegged to the US dollar. Users will be given a dedicated blockchain address, and the system will automatically convert between US dollars and stablecoins. In addition, Cash App will also add a merchant bitcoin payment function. Users do not need to hold bitcoin. Just scan the merchant's QR code, and the platform will automatically convert the user's cash into bitcoin to complete the payment. As a "bitcoin first" company, this move shows that even bitcoin stalwarts are starting to pay attention to the development potential of the stablecoin space. The field has been active recently, including Stripe's acquisition of Bridge, Trump's signing of the Genius Act, and Mastercard's acquisition of a stablecoin company.