# Cash App

> Source: https://docs.barcoder.ai/docs/wallets/cash-app
> research date 2026-05-29 · extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [Cash App — official](https://cash.app/)
- [Cash App — Wikipedia](https://en.wikipedia.org/wiki/Cash_App)

## Overview

**Cash App** is **the US's leading consumer crypto + P2P wallet**, operated by **Block, Inc.** (NYSE: XYZ; formerly Square, Inc.) <sup>[1][1], [2][2]</sup>. 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** <sup>[2][2]</sup>: Square's P2P-payment product alongside the Square POS terminal business.

**2018 — Cash App rebrand** <sup>[2][2]</sup>: From "Square Cash" to "Cash App".

**2018 — Bitcoin buying/selling added** <sup>[2][2]</sup>: First major US consumer wallet to integrate Bitcoin trading.

**2020-2022 — Direct deposit + investing + tax filing added** <sup>[2][2]</sup>: Super-app-like product expansion.

**December 2021 — Square renamed Block, Inc.** <sup>[2][2]</sup>: Reflects broader blockchain + financial-services focus.

**2024 — 51M MAU + $282.9B annual inflows + $16.25B revenue** <sup>[1][1]</sup>: Substantial scale.

**November 2025 — Stablecoin + Bitcoin merchant payments** <sup>[3][3]</sup>: Major crypto-payment expansion announcement.

**Q4 2025 — Bitcoin Map tool launched** <sup>[4][4]</sup>: 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** <sup>[1][1], [3][3]</sup>:

| 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

**US (2024-2025)** <sup>[1][1], [3][3]</sup>:
- **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)** <sup>[3][3]</sup>:
- Stablecoin send/receive.
- Pay merchants in Bitcoin (via Bitcoin Map tool).

## Use cases

**P2P transfers via $cashtag** <sup>[1][1]</sup>: Cardinal US use case.

**Cash App Card spending** <sup>[2][2]</sup>: Visa debit card with rewards (Cash App Boost).

**Bitcoin buy/sell/hold + Lightning send** <sup>[3][3]</sup>: First major US consumer wallet for Bitcoin.

**Bitcoin merchant payments via Bitcoin Map** <sup>[4][4]</sup>: Find nearby Bitcoin-accepting merchants.

**Stablecoin send/receive (2026 rollout)** <sup>[3][3]</sup>: Cross-border + crypto-payment use cases.

**Stock trading (fractional shares)** <sup>[2][2]</sup>: US-listed equities.

**Direct deposit + early salary access** <sup>[2][2]</sup>: Banking-like functionality.

**Tax filing (Cash App Taxes)** <sup>[2][2]</sup>: 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](https://docs.barcoder.ai/docs/wallets/zelle)** (US bank-consortium P2P), **[Apple Pay](https://docs.barcoder.ai/docs/wallets/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](https://docs.barcoder.ai/docs/wallets/zelle) (US bank-consortium) | [Apple Pay](https://docs.barcoder.ai/docs/wallets/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** <sup>[1][1], [3][3]</sup>:
- **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]: https://en.wikipedia.org/wiki/Cash_App "Cash App — Wikipedia"
[2]: https://en.wikipedia.org/wiki/Block,_Inc. "Block, Inc. — Wikipedia"
[3]: https://fortune.com/2025/11/13/cash-app-stablecoins-block-bitcoin-jack-dorsey/ "Cash App stablecoins + Bitcoin — Fortune"
[4]: https://www.paymentsdive.com/news/block-touts-cash-app-updates-crypto-wallets-money-bitcoin/805554/ "Cash App updates — Payments Dive"
[5]: https://www.cfodive.com/news/blocks-ahuja-chases-bitcoin-users-cash-app/652628/ "Cash App chases Bitcoin users — CFO Dive"

- [1] [Cash App — Wikipedia][1]
- [2] [Block, Inc. — Wikipedia][2]
- [3] [Cash App stablecoins + Bitcoin — Fortune][3]
- [4] [Cash App updates — Payments Dive][4]
- [5] [Cash App chases Bitcoin users — CFO Dive][5]

## Source

Biography extracted from [cash-app.md](https://docs.barcoder.ai/source/wallets/cash-app). See `matrix.md` for standards-support matrix if present.