Cash App will support stablecoin sending and receiving functions early next year.

Block's Cash App will launch stablecoin sending and receiving functionality early next year. Each account will be assigned a blockchain address, and stablecoins deposited on the blockchain will be automatically converted into US dollars within the app. When US dollars are transferred out of the app to the blockchain, they will be converted back into stablecoins. The specific stablecoins and blockchains supported have not been disclosed.