The post Cash App Launches Stablecoin and BTC Upgrades appeared on BitcoinEthereumNews.com. Cash App, the popular payment app owned by Block Inc., has launched one of its most significant crypto updates to date. The new release introduces instant Bitcoin payments — even for users who don’t hold any BTC, and adds global support for sending and receiving stablecoins. The new Bitcoin Payments with USD feature allows users to pay in Bitcoin at checkout even without owning the cryptocurrency. Cash App automatically converts US dollars from a user’s balance into Bitcoin for the merchant through the Lightning Network. According to the company, this opens crypto payments to all 58 million Cash App users without affecting their existing Bitcoin holdings or triggering taxable BTC sales. Cash App Statistics: How Many People Use Cash App? Cash App has also introduced Bitcoin Map, an interactive tool that helps users discover nearby businesses that accept Bitcoin and pay them directly through the app. The company says the feature supports local economies that embrace digital assets. In Q2 2023, Cash App generated $44 million in gross profit from $2.4 billion in Bitcoin sales, highlighting the app’s large existing crypto footprint. Stablecoins, Self-Custody, and Cash App’s Bigger Goal for Bitcoin Payments “Bitcoin was created as peer-to-peer money, and Cash App is building the tools that allow it to operate that way—fast, open, and borderless,” said Miles Suter, head of Bitcoin at Block Inc. He emphasized that the company aims to make cryptocurrency practical for both shoppers and merchants. Cash App’s update also brings stablecoin support, allowing users to send and receive stablecoins worldwide. Incoming stablecoins are automatically converted into US dollars, ensuring smooth transactions with stable value. Stablecoins as a Bridge to Bitcoin Suter described stablecoins as a transitional step between traditional finance and decentralized digital money: “The traditional fiat system is Money 1.0. Bitcoin is Money 2.0—the end… The post Cash App Launches Stablecoin and BTC Upgrades appeared on BitcoinEthereumNews.com. Cash App, the popular payment app owned by Block Inc., has launched one of its most significant crypto updates to date. The new release introduces instant Bitcoin payments — even for users who don’t hold any BTC, and adds global support for sending and receiving stablecoins. The new Bitcoin Payments with USD feature allows users to pay in Bitcoin at checkout even without owning the cryptocurrency. Cash App automatically converts US dollars from a user’s balance into Bitcoin for the merchant through the Lightning Network. According to the company, this opens crypto payments to all 58 million Cash App users without affecting their existing Bitcoin holdings or triggering taxable BTC sales. Cash App Statistics: How Many People Use Cash App? Cash App has also introduced Bitcoin Map, an interactive tool that helps users discover nearby businesses that accept Bitcoin and pay them directly through the app. The company says the feature supports local economies that embrace digital assets. In Q2 2023, Cash App generated $44 million in gross profit from $2.4 billion in Bitcoin sales, highlighting the app’s large existing crypto footprint. Stablecoins, Self-Custody, and Cash App’s Bigger Goal for Bitcoin Payments “Bitcoin was created as peer-to-peer money, and Cash App is building the tools that allow it to operate that way—fast, open, and borderless,” said Miles Suter, head of Bitcoin at Block Inc. He emphasized that the company aims to make cryptocurrency practical for both shoppers and merchants. Cash App’s update also brings stablecoin support, allowing users to send and receive stablecoins worldwide. Incoming stablecoins are automatically converted into US dollars, ensuring smooth transactions with stable value. Stablecoins as a Bridge to Bitcoin Suter described stablecoins as a transitional step between traditional finance and decentralized digital money: “The traditional fiat system is Money 1.0. Bitcoin is Money 2.0—the end…