Block's Cash App will launch USDC stablecoin payment functionality in phases, supporting four blockchains: Solana, Ethereum, Polygon, and Arbitrum.

CoinFeed reported on May 27th that, according to CoinDesk, Block's Cash App has begun rolling out USDC stablecoin payments to approximately one-quarter of its nearly 60 million users, with plans to cover all users this week. This feature allows users to deposit and withdraw USDC on four blockchains: Solana, Ethereum, Polygon, and Arbitrum, providing a blockchain transfer channel for fiat currency balances, not as an investment tool. Product documentation indicates that on-chain transfers are irreversible; incorrect transfers to addresses or unsupported networks will result in permanent loss of funds. This feature is currently unavailable in New York State and for sponsored accounts. Verified users are limited to sending a maximum of $2,000 per day ($5,000 per week) and receiving a maximum of $10,000 per week.