Stablecoins
What are stablecoins?
Stablecoins are a type of digital currency designed to maintain a relatively stable value by being backed by assets such as fiat currency (e.g., the U.S. dollar). While they tend to be more stable than cryptocurrencies like bitcoin, their value can still fluctuate.
With Cash App, you can send and receive stablecoins directly from your Cash Balance. There is no separate stablecoin balance. When you receive stablecoins, they are instantly converted to dollars. When you send, we’ll convert your dollar amount 1:1 to stablecoins.
There are no fees for sending or receiving stablecoins on Cash App.
Cash App supports stablecoins (USDC) on the following blockchains:
Solana
Ethereum
Polygon
Arbitrum
Always confirm you are using a supported network before sending or receiving. Sending stablecoins on an unsupported network will result in permanent loss of funds.
How to receive stablecoins
When you receive stablecoins, they are instantly converted to U.S. dollars in your Cash Balance.
To deposit stablecoins:
Go to the Money tab
Tap Deposit stablecoins
Select a payment network to view your wallet address
Share your wallet address or QR code with the sender
How to send stablecoins
You can send U.S. dollars from your Cash Balance as USDC to any compatible wallet address on a supported blockchain. Cash App converts your dollars 1:1 to USDC when you send.
To send stablecoins:
Go to the Payments tab ($)
Enter at least $1
Tap Pay
Paste the recipient's wallet address
Confirm the payment by tapping Send
You can also tap the icon on the top left of your home screen to scan a wallet QR code.
Stablecoin transactions are irreversible once confirmed. Always double-check the wallet address and blockchain before sending. If you send funds to the wrong address or using the wrong network, they cannot be recovered.
Limits
To send and receive stablecoins, you must verify your identity. Stablecoin limits are:
Sending: $2,000 per day; $5,000 per week
Receiving: $10,000 per week
These limits are separate from your bitcoin limits. If your account is less than 90 days old, your receiving limit may be lower.
To view your current limits:
Tap the Profile icon
Tap Limits
Scroll to Bitcoin and then to Stablecoin
Limits are subject to change.
To verify your account:
- Visit the profile section in the top-right
- Scroll down to Personal Information
- Choose Verify at the Identity Verification section
- Follow the prompts
Availability
Stablecoins are not currently available to customers located in New York. Sponsored accounts are also not eligible for stablecoins.