Cash App

Cash App, launched by Block, Inc. (formerly Square) on October 13, 2013, has evolved from a simple peer-to-peer money transfer service into a comprehensive financial services platform serving 57 million monthly active users as of 2024. Originally branded as Square Cash, the platform was conceived during a company hack week by Jack Dorsey and Brian Grassadonia, facing initial internal resistance before becoming one of the most successful digital payment applications in the United States.

Today, Cash App has become a full-service financial ecosystem offering peer-to-peer payments, Bitcoin and stock investing, direct deposit banking, tax filing services, and personal loans. The platform generated $16.25 billion in revenue and processed $282.9 billion in customer inflows during 2024, representing a 13.2% year-over-year growth. Notably, Cash App accounts for half of Block, Inc.'s total revenue, with Bitcoin trading comprising 62% of Cash App's revenue stream.

The platform has distinguished itself in the competitive digital payments landscape through its user-friendly interface, instant transfer capabilities, Cash Card debit card, and comprehensive financial services that go beyond simple money transfers. With 24 million Cash App Card users and a strong presence among Gen Z (38% of monthly active users), Cash App has positioned itself as more than just a payment app—it's a complete banking alternative for millions of Americans seeking accessible, fee-free financial services.