Article Navigation
Cash App (previously Square Cash) is a mobile payment app by Block, Inc., allowing users (for a fee of 1.5%) to send money to each other using a mobile app.
You can only get the service in the UK and the US. They reported $1.8 billion profit in September 2021, with 70 million users transacting each year.
Cash App Net Worth
Square’s mobile payments app Cash App is now worth $40 billion.
Cash App History
Square, Inc. (Block, Inc’s old name) launched Cash App in October 2013 as “Square Cash”. A business version of Square Cash was launched in March 2015. With it, businesses, groups, and individuals could send and receive money by using a unique username, or $cashtag. From then on, $cashtag has been the user’s favorite method of sending money.
The highlights
- Cash App added bitcoin support in January 2018.
- As of October 2019, Cash App provides U.S. users with stock trading capabilities.
- The company announced in November 2020 that it was buying Credit Karma Tax, a free service you can do your own taxes on, and that it would be a part of their Cash App business.
- In November 2021, Square started a Cash App for 13-17-year-olds. Its previous requirement was an 18-year-old user age, and teens under 18 needed parental or guardian permission in order to access bitcoin or stock trading.
- Music database Genius says 200 hip-hop artists mention Cash App on their tracks.
- Having cultural affinities coupled with cryptocurrency has made it the fourth biggest consumer app in the U.S.
