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What’s Actually Going On Cash App to Support Stablecoin Payments Block’s Cash App (founded/co‑founded by Jack Dorsey) is rolling out a feature to let users send and receive stablecoins. According to Block, this new feature will support multiple stablecoins and networks. The launch is planned for early 2026, at least for the first phase. Why Solana? Cash App will use USDC on the Solana blockchain for its first wave of stablecoin payments. Solana is being picked because of its high speed and low transaction costs, which are ideal for payments. Solana’s official account (or PR team) confirmed this on X, endorsing the use of Solana-powered USDC in Cash App. Jack Dorsey’s Philosophy Even though Dorsey is a well-known Bitcoin maximalist, Block’s team describes stablecoins in Cash App as “upgraded fintech rails.” Block’s Bitcoin Product Lead, Miles Suter, said: “We are building Cash App v2 on Bitcoin … If customers want to send us stablecoins, we will happily turn them into bitcoins.” This suggests a vision where stablecoins act as on‑ramp rails, while the long-term goal remains Bitcoin as a core store of value. Lightning Network for BTC Payments Alongside stablecoin support, Cash App is also enabling Bitcoin payments over the Lightning Network. Users will even be able to pay in USD but have merchants receive BTC if they choose — by converting their USD Cash App balance into BTC when they pay. Why It Matters Mass Adoption of Crypto Payments: With 57 million monthly Cash App users, adding USDC payments could bring stablecoins to a mass consumer base. Bridge Between Fiat and Bitcoin: This move blends fiat, stablecoins, and BTC — letting people pay easily, but also steering things back toward Bitcoin if they want. Validates Solana for Payments: Choosing Solana isn’t random — its network properties make it a strong choice for fast, cheap USD‑pegged token transfers. Strategic Flexibility: By building its system to be “chain- and coin-agnostic,” Block is positioning itself for future growth, not tying itself solely to one network or one stablecoin. Risks & Things to Watch Regulatory Risk: As stablecoins and payments systems increasingly come under regulatory scrutiny, this could raise compliance/oversight challenges. Onboarding Complexity: Even though payments will be smoother, some users may not fully understand or trust stablecoins. Conversion Risk: If Cash App is converting stablecoins to Bitcoin under the hood, there might be risks around price slippage, liquidity, or how that conversion is done. Network Risk: While Solana is fast and cheap, no blockchain is immune to congestion or potential issues — and that could affect user experience. My Take This is a very smart move by Block/Cash App: It keeps Dorsey’s Bitcoin vision in focus (they’re still “building on Bitcoin”), But it pragmatically adds stablecoins to make payments more usable today. Using Solana for the stablecoin rails makes a lot of sense technically. If this works out, it could be a major step in bringing crypto payments (especially stablecoins) into mainstream fintech.

ETF Flows Update (Nov 13): Bitcoin and Ethereum spot ETFs recorded significant net outflows, with $BTC seeing 866.7M pulled and $ETH down by 259.6M. Meanwhile, Solana bucked the trend, posting 1.5M in inflows

🗣 VanEck has submitted a Form 8-A for its Solana Spot ETF — a regulatory step that typically comes right before the product’s market debut 📄 ➡️ In many cases, trading begins the very next day Could this be the catalyst that boosts Solana’s institutional adoption? 👀 #Solana

On November 13 (ET), spot Bitcoin ETFs recorded total net outflows of $870 million, the second-largest in history. Spot Ethereum ETFs saw total net outflows of $260 million, marking the third consecutive day of outflows. U.S. spot Solana ETFs registered net inflows of $1.49 million.