Cash App has introduced new features allowing users to send and receive stablecoins and make payments in bitcoin via the Lightning Network. This update enables customers to use their USD balances for bitcoin transactions without needing to hold the cryptocurrency. The changes come as adoption of stablecoins rises and reflect a shift in how people manage their finances.

Block is focusing on teenage users as a key growth strategy for its Cash App, aiming to secure lifelong customers through enhanced engagement and marketing efforts. The company reported significant growth in teen accounts and plans to introduce new features and expand lending services, contributing to an increase in net income and revenue despite a slight decline year-over-year.