Summary
- Cash App is expanding its cryptocurrency offerings beyond bitcoin and USDC through crypto payments platform MoonPay.
- Through MoonPay, Cash App customers will be able to purchase tokens such as ether, solana, XRP and USDT and fund popular wallets including Ledger, BitPay, Trust Wallet, MetaMask and Uniswap.
- Cash App’s crypto offering has historically been restricted to bitcoin, until it added support for USDC earlier this year.
Cash App’s cryptocurrency service is extending beyond bitcoin BTC$64,100.72 and stablecoin USDC for the first time by being added to crypto payments platform MoonPay.
This means eligible U.S. Cash App users will be able to utilize their balances to purchase a host of other digital assets offered by MoonPay, including ether ETH$1,894.72, solana (SOL), XRP and the largest stablecoin, USDT.
Users will also be able to fund wallets on MoonPay through their Cash App balances, including Ledger, BitPay, Trust Wallet, MetaMask and Uniswap, among others.
Cash App, the mobile payment service developed by Jack Dorsey’s fintech company Block (XYZ), is one of the premier mainstream gateways into cryptocurrency, given its customer base of over 50 million users.
The gateway has, nevertheless, historically been open only for bitcoin purchases. Cash App added support for USDC, the second-largest stablecoin by market cap, earlier this year.
Bitcoin maximalist Dorsey stated he didn’t like supporting stablecoins, but Cash App’s “customers want to utilize them.”
“I don’t think it’s wise to go from one gatekeeper to another,” he stated in March.
