Jack Dorsey’s Cash App Disrupts Finance Again: Instant Bitcoin Payments Go Live

Blockchain meets your morning coffee—Jack Dorsey's Cash App just flipped the switch on instant Bitcoin transactions. No more waiting for confirmations while Wall Street brokers sip champagne.

How it works: Tap, send, settled. The update bypasses traditional banking rails, slashing transfer times from hours to seconds. Finally—a use case for crypto that doesn't involve explaining proof-of-work to your aunt at Thanksgiving.

The catch? Fees still bite harder than a bear market. But for once, the 'banking revolution' hype might actually stick—at least until the SEC files its inevitable lawsuit.

Instant Bitcoin payments and stablecoins coming to Cash App

The biggest headline feature is instant bitcoin payments. Using the Lightning Network, Cash App users will soon be able to pay with Bitcoin for free and within seconds. Later this month, customers will also be able to pay Lightning invoices using U.S. dollars, allowing them to make fast, low-cost payments without owning or holding Bitcoin.

A new Bitcoin Map inside the app will let users locate nearby merchants, including Square sellers that accept Bitcoin. The feature integrates with navigation and in-app payment options to simplify local crypto spending.

Cash App also plans to roll out support for stablecoin transfers, allowing eligible users to send and receive digital dollars for the first time. The company says Bitcoin and stablecoins together will “bridge” faster, open money movement across its ecosystem.

New banking features under “Cash App Green”

The update introduces Cash App Green, a reworked benefits system designed for users who don’t rely on traditional direct deposits. Nearly 40% of Cash App customers fall into that category, according to the company.

Users can now qualify for benefits such as no ATM fees, overdraft protection, higher borrowing limits, and better savings interest rates by either depositing at least $300 or spending $500 per month via Cash App Card or Cash App Pay. Around 8 million users will gain access to these upgraded features.

Cash App expands credit access and Afterpay integration

Through Cash App Borrow, eligible customers in 48 states can now borrow up to $500 for the first time. The company says the service maintains repayment rates above 97% despite most borrowers having credit scores below 580, highlighting a data-driven lending model based on spending and savings behavior rather than credit history.

The update also brings Afterpay integration directly into Cash App. Users can now view balances, manage purchases, and check payment power without leaving the app, unifying Block’s two consumer finance products.

AI-powered “Moneybot” to help manage finances

Cash App is trying out a new AI assistant called Moneybot, which is meant to help users better understand and manage their finances. The tool can pull up account details, respond to questions, and give personalized insights, like showing spending habits or suggesting how much someone could save.

“Moneybot takes it a step further by helping to turn those insights into action,” said Cameron Worboys, Cash App’s Head of Product Design. The company says the feature will expand to more users in the coming months as part of a larger shift toward AI-driven account management.

Peer-to-peer and group features

Peer payments remain central to the app. Since the launch of Cash App Pools in August, more than 1.7 million users have used the feature to collect money for shared goals, with nearly a fifth of contributors being new peer connections. Upcoming updates include options for contributors to add comments or notes to pooled payments.

Teen accounts gain interest and parental controls

Cash App’s teen accounts, which are among the platform’s fastest-growing user segments, now offer up to 3.5% APY on savings. Parents and guardians can set spending limits, approve contacts, and receive transaction alerts as part of expanded safety tools.

The company said its debit card remains the most widely used among U.S. teens.

Enhanced security and fraud prevention

Cash App says it’s improving its fraud detection and refund systems as part of its latest product update. The company said its payment warning feature, powered by artificial intelligence, has stopped more than $2 billion worth of potential scams since 2020. In 2024, Cash App reimbursed about $8 million to over 80,000 users who were affected by fraud.

Core security tools such as PIN protection, biometric login, and instant card locking remain built into the app for all users, the company said.

Broader context

Cash App’s latest expansion highlights a broader shift in fintech, as companies combine traditional banking services with cryptocurrency and AI-based tools. The goal is to keep pace with how people now earn and move money, through gig work, digital jobs, and creator income, rather than just through traditional paychecks.

“The way people earn and manage money has fundamentally shifted, and traditional financial institutions haven’t kept up to meet their needs,” said Owen Jennings, Executive Officer and Business Lead at Block.

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