- Block’s Cash App rolled out its largest update ever, adding 151 new features spanning banking, bitcoin, payments, and AI-driven automation.
- The app will soon let Cash App’s 58 million users send and receive stablecoins, automatically converting between fiat and crypto to bypass legacy payment rails.
- A new Moneybot feature delivers personalized financial insights, while Cash App Green expands banking perks like 3.5% APY savings and fee-free overdrafts.
Block-owned Cash App unveiled its Fall Release this week. The move marks the brand’s most significant product expansion since it was founded in 2013. The new release brings 151 new features across banking, bitcoin, commerce, peer-to-peer payments, and AI and automation on the platform.
Among the releases, one of the most relevant is the new stablecoin capability. When it goes live early next year, Cash App’s 58 million customers will receive a blockchain address that will allow them to send and receive stablecoins directly on the platform. When users receive stablecoins, they are automatically converted to fiat currency within the app. Conversely, fiat dollars sent out convert back to stablecoins on-chain. Leveraging the blockchain to transfer funds will help Cash App bypass ACH, card networks, and correspondent banking.
Other notable releases among the 151 announced are:
Cash App Green
Arguably the second most significant piece of the new launch is Cash App Green, a flexible banking program that expands banking tools to more than eight million qualifying customers. Cash App is positioning the banking program as a benefits program, and will pay 3.5% APY on savings, offer free overdraft coverage of up to $200, facilitate no-fee cash withdrawals from in-network ATMs, extend higher borrowing limits, offer free overdraft protection, and lend up to $500 without a credit check. Users can unlock these benefits by spending $500 or more with their card or depositing $300 or more in paychecks each month.
Moneybot
This AI-powered feature offers users real-time insight and personalized suggestions within the app. The feedback, which is based on in-app activity, helps customers budget smarter, identify trends, and build financial confidence.
Expanded access to credit
Cash App’s lending product, Borrow, is now available to eligible customers in 48 states. This expansion targets underserved populations with low credit scores. Cash App disclosed that 70% of Borrow users have credit scores below 580, while repayment rates remain above 97%.
Expanded teen savings and safety features
Cash App’s teen accounts for users 13 to 17 year of age now earn 3.5% APY on their savings balances. Additionally, the company is releasing new parental controls to allow the primary accountholder to set spending caps, limit features, and approve contacts.
Making bitcoin everyday money
In addition to the stablecoin capabilities mentioned above, Cash App customers will be able to spend, send, and hold bitcoin. When users select USD as a currency for Lightning QR Code payments, they can make the payment without spending or holding bitcoin. Additionally, customers can access a new map to find and pay nearby merchants who accept bitcoin.
Cash App was founded in 2013. At the time, Cash App most directly competed with Braintree’s Venmo. Twelve years on, Cash App still has its roots in peer-to-peer payments, but has since diversified into a more robust digital banking platform that enables users to hold funds, deposit their paychecks, spend their money, invest, manage their bitcoin, and file their taxes.
Today’s announcement, which comes four months after Cash App launched a group payment feature called Pools, is a clear statement that the company is seeking to compete in the challenger banking arena.
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