Jack Dorsey's Block is transforming its nearly 60 million users' Cash App into a compliant stablecoin retail gateway.

This move is a key action by traditional fintech giants following clearer regulation of stablecoins, as Coinbase has previously transitioned to "Everything Exchange" through system upgrades, and payment giants like Stripe have also laid out stablecoin infrastructure through acquisitions and self-built Layer 1 solutions.
The initial gray-scale testing mode has opened to 25% of users, indicating that the system's concurrent processing and compliance risk control for multi-chain USDC (Solana, Ethereum, Polygon, Arbitrum) are still under stress testing.
Unlike previous small-scale experiments with native crypto applications, this time it is directly targeting a massive number of ordinary users, and the system stability and user experience will directly influence the mainstream market's first impression of on-chain US dollar.
On May 27, Block's Cash App began phased rollout of USDC payment features, currently available to 25% of its nearly 60 million users, with plans to cover all users by the end of this week.
This feature supports USDC on Solana, Ethereum, Polygon, and Arbitrum, allowing users to deposit USDC to recharge their fiat balance in Cash App or transfer funds as USDC to external accounts. $ETH
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