Block Inc. the parent company of Cash App has officially announced plans to enable USD Coin (USDC) payments on its platform starting in early 2026, powered by the Solana blockchain.
This marks a significant expansion for Cash App, which already supports Bitcoin trading and transfers, into stablecoin functionality. The move is designed to make crypto payments faster, cheaper, and more seamless for everyday users, leveraging Solana’s high-speed, low-cost transaction capabilities.
Rollout begins in early 2026, initially focused on USDC send/receive. Transactions will run on Solana, chosen for its sub-second settlement times and fees often under a cent—ideal for routine payments like remittances or peer-to-peer transfers.
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User Experience: Each Cash App user gets a unique blockchain address. Incoming on-chain USDC auto-converts to USD in the app. Outgoing USD converts to USDC for blockchain transfer. No need to manually manage wallets; it’s all handled in-app via QR code scans or simple sends.
Starts with USDC but may expand to other stablecoins and networks. It complements a separate upcoming feature for Bitcoin merchant payments without users needing to hold BTC. With Cash App’s 57 million monthly active users, this could onboard millions to on-chain payments, bridging traditional finance and crypto.
Solana was selected over alternatives like Bitcoin’s base layer for its efficiency in handling stablecoin volumes. As a “Bitcoin maxi” Jack Dorsey’s self-described stance, this choice surprised some, but it prioritizes practicality.
Solana already processes billions in USDC daily with minimal friction. Circle even demoed the integration in a video shared by Cash App. Solana (SOL) saw a brief 1.4% dip post-announcement, with retail sentiment on platforms like StockTwits remaining bearish short-term, but analysts eye potential rallies to $200+ by mid-2026 if adoption surges.
This aligns with a wave of stablecoin integrations, including Western Union’s Solana-based remittances launching H1 2026 and Stripe’s USDC support on multiple chains. It positions Cash App as a gateway for mainstream crypto use.
Recent U.S. laws like the Genius Act signed in July 2025 provide clearer stablecoin frameworks, easing such rollouts. This integration could accelerate Solana’s role in real-world payments, potentially driving ecosystem growth.
Western Union’s Solana-Based Remittances Initiative
Western Union, the global remittance giant processing over $150 billion annually across 200+ countries, announced in late October 2025 plans to revolutionize cross-border payments by launching a Solana-powered stablecoin.
This move aims to slash traditional remittance fees (averaging 6.5%) and settlement times (often days) to sub-second speeds and fractions of a cent, targeting its 130+ million customers. It’s a major validation for Solana’s scalability in real-world finance, complementing similar efforts like Cash App’s USDC integration.
A 1:1 USD-backed token issued by federally regulated Anchorage Digital Bank. It will enable seamless, low-cost transfers, with reserves held in compliant U.S. assets for transparency and stability.
Solana chosen for its high throughput (thousands of TPS), sub-$0.01 fees, and near-instant settlements—ideal for micro-remittances. Unlike Ethereum’s higher costs, Solana makes small-value transfers viable at scale.
A new off-ramp system allowing users to convert USDPT or other cryptos like USDC to local fiat at 500,000+ Western Union agent locations worldwide. This bridges crypto and cash, solving adoption barriers for non-tech-savvy users.
Senders load fiat into the app/wallet, convert to USDPT, transfer on-chain, and recipients cash out instantly at agents. Beta testing begins mid-2025, with full rollout in H1 2026.
Traditional systems rely on slow correspondent banking, locking up capital and hiking costs—especially painful for the $800B+ annual global remittance market, dominated by migrants sending small amounts home.
Western Union’s bet embeds Solana rails into a trusted brand with physical distribution, potentially onboarding millions. Analysts at William Blair see it as an “opportunity, not a threat,” boosting efficiency and new revenue from crypto conversions.
Builds on trends from Visa USDC on Solana/Eth, MoneyGram, and PayPal’s PYUSD. Western Union’s scale 380,000+ agents gives it unique distribution. WU shares jumped 6.5% on announcement day but are down ~10% YTD amid broader growth pressures.
This positions Western Union as a crypto pioneer, potentially making Solana the go-to for everyday global money movement.