Block CEO Jack Dorsey Says Company Will Support Stablecoins to Meet Customer Demand

Block CEO Jack Dorsey has long argued that Bitcoin should be the internet’s native currency. The company also holds 8,888.3 Bitcoin and has invested in mining hardware and the Lightning Network. With Stripe and PayPal entering the stablecoin market, customer demand and competitive pressure have prompted Block to shift away from its Bitcoin-only approach.

On May 27, 2026, Block confirmed that Cash App was rolling out Circle’s USDC in phases. The initial release covered 25% of its nearly 60 million users, with access expected to expand to all users by the end of that week. The service supports Ethereum, Solana, Polygon and Arbitrum, with a daily withdrawal limit of $2,000 and a weekly receiving limit of $10,000. It is not currently available in New York state.