Crypto World
Cash App taps MoonPay to give 50 million users access to broader crypto markets
Cash App’s cryptocurrency service is extending beyond bitcoin 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 use their balances to purchase a host of other digital assets offered by MoonPay, including ether , 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, however, 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 said he didn’t like supporting stablecoins, but Cash App’s “customers want to use them.”
“I don’t think it’s wise to go from one gatekeeper to another,” he said in March.
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