Jack Dorsey Brings Bitcoin Lightning and Stablecoin Payments to Cash App
Cash App rolled out a major update Thursday that introduces Bitcoin Lightning payments and stablecoin transfers, aiming to make crypto transfers quicker and less expensive for users. The move — from the app founded by Jack Dorsey — lets customers send BTC over the Lightning Network for near-instant settlement and use fiat-pegged tokens for stable value transfers inside the platform. Cash App framed the change as a way to lower friction for everyday crypto use and merchant acceptance.
The addition matters because Lightning reduces fees and confirmation delays that have long limited Bitcoin’s use as a payment rail, while stablecoins offer a bridge to fiat-like stability for remittances and peer-to-peer payments. The update could accelerate adoption among casual users and merchants and intensify competition among wallets and payment apps, even as it raises fresh questions about custody, compliance and regulatory scrutiny in different jurisdictions.