Wallets/cash-app
Cash App
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Overview
Cash App is the US's leading consumer crypto + P2P wallet, operated by Block, Inc. (NYSE: XYZ; formerly Square, Inc.) [1, 2]. Launched October 2013 as "Square Cash", Cash App grew to 57+ million monthly active users + $282.9 billion annual inflows + $16.25 billion annual revenue (2024). Cash App combines P2P transfers via $cashtag identifiers, debit-card spending (Cash App Card), Bitcoin trading + holding, stock trading, direct deposit, tax filing — increasingly a full neobank-style product. November 2025: Cash App added stablecoin send/receive + pay merchants in Bitcoin features, expanding its crypto-payment positioning.
History
October 2013 — Square Cash launches [2]: Square's P2P-payment product alongside the Square POS terminal business.
2018 — Cash App rebrand [2]: From "Square Cash" to "Cash App".
2018 — Bitcoin buying/selling added [2]: First major US consumer wallet to integrate Bitcoin trading.
2020-2022 — Direct deposit + investing + tax filing added [2]: Super-app-like product expansion.
December 2021 — Square renamed Block, Inc. [2]: Reflects broader blockchain + financial-services focus.
2024 — 51M MAU + $282.9B annual inflows + $16.25B revenue [1]: Substantial scale.
November 2025 — Stablecoin + Bitcoin merchant payments [3]: Major crypto-payment expansion announcement.
Q4 2025 — Bitcoin Map tool launched [4]: Find nearby merchants accepting Bitcoin via Block's Square services.
Ownership & operator
Operating entity: Block, Inc. (NYSE: XYZ) — Delaware-incorporated public company.
Founder + CEO: Jack Dorsey (also co-founder + former Twitter CEO).
Major subsidiaries within Block:
- Cash App (consumer).
- Square (merchant POS + payments).
- Afterpay (BNPL; acquired 2021).
- TIDAL (music streaming).
- Spiral (formerly Square Crypto; Bitcoin-focused R&D).
- TBD (Bitcoin/Web5 infrastructure).
Regulators:
- United States: state-level money transmitter licenses across all 50 states; FinCEN registration as Money Services Business; NYDFS BitLicense for New York crypto operations.
- Banking partners: Sutton Bank (Cash App debit card sponsor); FDIC-insured deposits via bank partners.
Technical integration
Cash App is US consumer wallet with crypto + stock + debit card [1, 3]:
| Layer | Description |
|---|---|
| Channels | Mobile app (iOS + Android) + web (cash.app) + Cash App Card (Visa debit) |
| Identifiers | $cashtag (unique handle) + phone number + email |
| Underlying rails | ACH (US direct deposit + transfers) + Visa (Cash App Card) + Bitcoin Lightning Network (for Bitcoin) |
| Crypto support | Bitcoin buy/sell/hold/send + Lightning Network (instant Bitcoin payments) + stablecoins (rolling out 2026) |
| Stock trading | Fractional shares of US-listed stocks |
| Direct deposit | ACH-based salary deposits with early access |
| Tax filing | Cash App Taxes (formerly Credit Karma Tax) — free US federal + state filing |
Users & growth
- Monthly active users (Dec 2022 baseline): 51 million
- 2024 annual inflows: $282.9 billion
- 2024 annual revenue: $16.25 billion
- Cash App Card adoption: substantial; Cash App Card drove substantial revenue growth
Recent product expansion (Nov 2025) [3]:
- Stablecoin send/receive.
- Pay merchants in Bitcoin (via Bitcoin Map tool).
Use cases
P2P transfers via $cashtag [1]: Cardinal US use case.
Cash App Card spending [2]: Visa debit card with rewards (Cash App Boost).
Bitcoin buy/sell/hold + Lightning send [3]: First major US consumer wallet for Bitcoin.
Bitcoin merchant payments via Bitcoin Map [4]: Find nearby Bitcoin-accepting merchants.
Stablecoin send/receive (2026 rollout) [3]: Cross-border + crypto-payment use cases.
Stock trading (fractional shares) [2]: US-listed equities.
Direct deposit + early salary access [2]: Banking-like functionality.
Tax filing (Cash App Taxes) [2]: Free US tax filing.
Implementations & partners
Operator: Block, Inc. (NYSE: XYZ).
Banking sponsor (US deposits): Sutton Bank + FDIC-insured deposits via partner banks.
Card-network partner: Visa (Cash App Card debit).
Crypto infrastructure: Block subsidiaries Spiral + TBD for Bitcoin protocol R&D.
Major US competitors: Venmo (PayPal subsidiary, US P2P leader by user count), [[zelle]] (US bank-consortium P2P), [[apple-pay]] Cash, Robinhood (crypto + stocks competitor).
Fun facts
- Launched October 2013 as "Square Cash" by Square (now Block).
- Founder + CEO Jack Dorsey also co-founded + ran Twitter.
- Renamed Cash App in 2018 + Square → Block, Inc. in December 2021 reflecting broader blockchain + financial-services strategy.
- First major US consumer wallet to integrate Bitcoin (2018).
- $cashtag identifier — unique handles like @user — distinctive UX vs phone-number-based competitors.
- 51M+ MAU + $282.9B annual inflows + $16.25B revenue (2024) — substantial scale.
- November 2025 stablecoin expansion + Bitcoin merchant payments — major crypto-payment positioning.
- Cash App Taxes (free US tax filing) — competitive against TurboTax + H&R Block.
- Bitcoin Map tool — find nearby Bitcoin-accepting Block-Square merchants.
Comparison
| Feature | Cash App | Venmo (PayPal subsidiary) | [[zelle]] (US bank-consortium) | [[apple-pay]] Cash | Robinhood |
|---|---|---|---|---|---|
| Operator | Block, Inc. (XYZ) | PayPal Holdings | Early Warning Services (7-bank consortium) | Apple Inc. | Robinhood Markets (HOOD) |
| Type | Consumer wallet + crypto + stocks | P2P + commerce | Bank-consortium P2P | NFC + P2P (iMessage) | Crypto + stocks broker |
| Users (2024-25) | 51M+ MAU | 80M+ | 100M+ users | iOS-only base | 24M+ funded accounts |
| Distinctive | Bitcoin + stablecoins + $cashtag + debit card | PayPal-integrated, US-dominant P2P | Bank-to-bank, fast settle | iOS-only, Apple-ecosystem | Stocks + crypto + retirement |
| Crypto | Bitcoin + Lightning + stablecoins | Limited crypto | None | None | Multi-asset crypto |
| Annual inflows | $282.9B (2024) | Substantial | n/a | n/a | n/a |
Status
Active, leading US consumer wallet + crypto [1, 3]:
- Operator: Block, Inc. (NYSE: XYZ).
- 51M+ MAU + $282.9B annual inflows + $16.25B revenue (2024).
- First major US consumer wallet for Bitcoin (2018).
- November 2025: Stablecoin send/receive + Bitcoin merchant-payment expansion.
Sources
- 1 Cash App — Wikipedia
- 2 Block, Inc. — Wikipedia
- 3 Cash App stablecoins + Bitcoin — Fortune
- 4 Cash App updates — Payments Dive
- 5 Cash App chases Bitcoin users — CFO Dive
Source
Biography extracted from cash-app.md. See matrix.md for standards-support matrix if present.