Cash App Supports USDC Transfers
Cash App launches support for USDC stablecoin transfers on Ethereum, Polygon, and Arbitrum, with no wallet setup required for its nearly 60 million users.
Cash App launched support for stablecoins, allowing users to send and receive USDC directly from their existing Cash App balance. The solution requires no wallet setup and is now live for USDC stablecoin transfers on Ethereum, Polygon, and Arbitrum. For receiving stablecoins, Cash App auto-converts stablecoins into a USD balance at a 1:1 ratio with no fees.
The rollout provides Cash App's nearly 60 million users with access to stablecoins. Sending limits are set at $2,000/day and $5,000/week. The feature is also unavailable to New York residents.
ETHConf lands in NYC June 8-10, bringing together 5,000+ attendees, 150+ speakers, and 100+ companies across Ethereum, stablecoins, and institutional adoption.
Get your tickets at ethconf.com and use code ETHDAILY for 30% off General and 20% off VIP.
Disclaimer: Content is for informational and educational purposes only and does not constitute financial, investment, legal, or other professional advice. No representations or warranties are made as to accuracy, completeness, or timeliness. Use of this content is at your own risk, and you should consult a qualified professional before making decisions. No fiduciary or advisory relationship is created
SoFi Rolls Out SoFiUSD Stablecoin
SoFi becomes the first nationally chartered retail bank to issue a stablecoin on Ethereum, with SoFiUSD already surpassing $100 million in market cap.
Fintech firm SoFi Technologies rolled out SoFiUSD, its native U.S. dollar stablecoin, to SoFi members. The stablecoin already has over $100 million in market cap on Ethereum mainnet. SoFiUSD is redeemable 1:1 for U.S. dollars, with reserves held primarily in cash.
The stablecoin is the asset issued by SoFi's nationally chartered bank, SoFi Bank, N.A. SoFi is the first nationally chartered retail bank to issue a stablecoin on Ethereum. SoFi is also building tokenized deposit functionality, allowing users to convert SoFiUSD into a yield-bearing deposit token.
SoFiUSD joins a growing wave of regulated U.S. bank-issued onchain dollars, following Fidelity's FIDD announcement and J.P. Morgan's JPMD deposit token rollout on Base. The launch lands as the Senate Banking Committee weighs the CLARITY Act, which would ban deposit-like interest on payment stablecoins.
ETHConf lands in NYC June 8-10, bringing together 5,000+ attendees, 150+ speakers, and 100+ companies across Ethereum, stablecoins, and institutional adoption.
Get your tickets at ethconf.com and use code ETHDAILY for 30% off General and 20% off VIP.
Disclaimer: Content is for informational and educational purposes only and does not constitute financial, investment, legal, or other professional advice. No representations or warranties are made as to accuracy, completeness, or timeliness. Use of this content is at your own risk, and you should consult a qualified professional before making decisions. No fiduciary or advisory relationship is created
Coinbase Becomes USDC Treasury Deployer For Hyperliquid
Coinbase takes over as the official treasury deployer of USDC on Hyperliquid, with Circle handling cross-chain transfers via CCTP and USDC replacing USDH as the quote asset.
Coinbase is becoming the official treasury deployer of USDC on Hyperliquid, managing USDC reserves and sharing yield with the Hyperliquid ecosystem. Circle will handle the technical side, using CCTP to facilitate cross-chain transfers of USDC. USDC will effectively replace USDH as the de facto settlement currency and official quote asset on Hyperliquid, where USDC balances already sit at roughly $5 billion.
USDH markets will remain functional but sunset over time, with feeless conversions to USDC and fiat redemptions available during the wind-down. Native Markets has agreed to terms granting Coinbase the right to purchase the USDH brand assets. Coinbase has also increased its staked HYPE position as part of the transition, deepening its alignment with the Hyperliquid network as USDC consolidates its role across onchain capital markets.
ETHConf lands in NYC June 8-10, bringing together 5,000+ attendees, 150+ speakers, and 100+ companies across Ethereum, stablecoins, and institutional adoption.
Get your tickets at ethconf.com and use code ETHDAILY for 30% off General and 20% off VIP.
Disclaimer: Content is for informational and educational purposes only and does not constitute financial, investment, legal, or other professional advice. No representations or warranties are made as to accuracy, completeness, or timeliness. Use of this content is at your own risk, and you should consult a qualified professional before making decisions. No fiduciary or advisory relationship is created