Cash App will be adding Stablecoin transfers and will allow using Bitcoin to pay merchants

BlockBeats News, November 13th. According to Fortune, Jack Dorsey's payment and banking platform, Cash App, announced that it will support users to send and receive stablecoins. A spokesperson for Block stated that the use of stablecoins will be rolled out at the beginning of next year. The spokesperson did not disclose which stablecoins or blockchains Cash App plans to support. They also added that each user will receive a blockchain address associated with their account.

In addition to announcing plans to add stablecoins to Cash App, Block also stated on Thursday that Cash App users will be able to use Bitcoin to make payments to merchants. Users do not need to hold Bitcoin in the Cash App. They simply need to scan the merchant's QR code that accepts Bitcoin, and the platform will automatically convert the user's cash into Bitcoin and send it to the merchant.