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.

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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

Visa expanded its stablecoin settlement pilot to five new chains, including Base and Polygon. The additions bring Visa's total supported blockchains to nine, joining existing support for Ethereum. The pilot aims to push Visa's stablecoin infrastructure into mainstream finance. The pilot has reached a $7 billion annualized run rate.

The pilot builds on regional rollouts across Latin America, Europe, Asia Pacific, and CEMEA, as well as the recent expansion of USDC settlement to U.S. banks and over 130 stablecoin-linked card programs. Visa's multi-chain approach aims to give its partners more flexibility in how they access liquidity, while the network handles the underlying complexity of cross-chain settlement.

The expansion fits a broader trend of legacy financial infrastructure piloting Ethereum-aligned stablecoin rails. SWIFT is testing a stablecoin and onchain messaging system on Linea, and Polymarket recently announced its own native USD stablecoin to replace bridged USDC.e.

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