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

Aztec Labs announced its acquisition of Obsidion, the team behind ZKPassport, a ZK-powered private identity verification platform. ZKPassport allows users to prove age and nationality from over 130 supported government IDs, without revealing their full personal data. The protocol generates a cryptographic proof of the data locally.

Aztec Network used ZKPassport to verify nationality for the Aztec Network token sale. ZKPassport co-founders Michael Elliot and Theo Madzou will continue building ZKPassport under Aztec Labs. ZKPassport will remain open source and the team plans to expand use cases into new consumer products.

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

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