PANews reported on November 13th that, according to Fortune, 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-chain will be automatically converted to USD within the app. When USD is transferred out of the app to the blockchain, it will be converted back to stablecoins. Specific supported stablecoins and blockchains were not disclosed. The app also announced that users can automatically exchange cash for Bitcoin and pay merchants by scanning a supporting party's QR code, without holding Bitcoin themselves. Block stated that its principle is blockchain and coin neutrality. Earlier this week, it was reported that Square launched a Bitcoin payment function, allowing merchants to freely choose between BTC or fiat currency for settlement .PANews reported on November 13th that, according to Fortune, 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-chain will be automatically converted to USD within the app. When USD is transferred out of the app to the blockchain, it will be converted back to stablecoins. Specific supported stablecoins and blockchains were not disclosed. The app also announced that users can automatically exchange cash for Bitcoin and pay merchants by scanning a supporting party's QR code, without holding Bitcoin themselves. Block stated that its principle is blockchain and coin neutrality. Earlier this week, it was reported that Square launched a Bitcoin payment function, allowing merchants to freely choose between BTC or fiat currency for settlement .
Cash App will support stablecoin sending and receiving functions early next year.
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PANews reported on November 13th that, according to Fortune, 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-chain will be automatically converted to USD within the app. When USD is transferred out of the app to the blockchain, it will be converted back to stablecoins. Specific supported stablecoins and blockchains were not disclosed. The app also announced that users can automatically exchange cash for Bitcoin and pay merchants by scanning a supporting party's QR code, without holding Bitcoin themselves. Block stated that its principle is blockchain and coin neutrality.
Earlier this week, it was reported that Square launched a Bitcoin payment function, allowing merchants to freely choose between BTC or fiat currency for settlement .
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