Cash App adds Ethereum, Solana, XRP and Tether via MoonPay, broadening crypto access beyond Bitcoin. Block sidesteps direct token support while serving 50M users.
Cash App is opening its wallet to a much bigger menu of cryptocurrencies through a deal with MoonPay. Starting now, eligible U.S. customers can use their Cash App balances to buy Ethereum, Solana, XRP and Tether via MoonPay's payment network.
The move breaks Cash App's long-running habit of sticking mostly to Bitcoin. Parent company Block (XYZ), run by Jack Dorsey, had kept the app's direct crypto services heavily focused on BTC. That started to change earlier this year when Cash App added USDC support, despite Dorsey's public reservations about stablecoins.
Dorsey said in March that customer demand pushed the company to broaden stablecoin access, while warning against simply swapping one financial gatekeeper for another.
The MoonPay integration lets Block sidestep the technical work of directly supporting a dozen tokens. MoonPay handles the infrastructure; Cash App provides the payment rail. The deal also lets users fund transactions with popular crypto wallets and platforms including MetaMask, Ledger, Trust Wallet, BitPay and Uniswap.
Morgan Kuntze, Block's global partnerships lead, said Bitcoin remains the company's core digital asset. Block wants to give customers more choice in how they pay, he said.
Cash App serves more than 50 million customers in the U.S., making it one of the country's biggest mainstream on-ramps for crypto. The MoonPay partnership is the clearest sign yet that Block sees demand for a wider asset set as a business it cannot ignore.
XYZ, Block Inc., carries an Alpha Score of 42/100, tagged Mixed by the platform's scoring model.
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