CashApp Adds Lightning Bitcoin Payments and AI Tools

The popular mobile payment platform, CashApp, recently unveiled its latest features via the Cash Releases bundle. These upgrades catapult the network into the decentralized economy, providing its ~58M users direct access to Lightning Network Bitcoin payments and much more. Here’s what you need to know.

Why CashApp Is Expanding Into Crypto & AI

CashApp’s latest feature upgrades reflect the company’s renewed focus on empowering global commerce. The platform has taken a step back to evaluate the key differences between today’s clients and bank customers 5 years ago.

They discovered that today’s average banker participates in the economy in a much different way than their predecessors. For example, it’s more common than ever for clients to receive income across several different assets and for different tasks.

The company noted that it’s common for users to receive a mix of payments, including direct deposit or cash checks, digital currencies, bank transfers, peer-to-peer payments, and a few who still deposit and work with good ol’ cash.

Recognizing that the way people earn money has changed, CashApp has set out to restructure its offering to cater to this new generation of users. These clients expect 24/7 responsiveness, low fees, international connectivity, and untethered access to their advanced digital assets.

CashApp’s New Crypto & AI Feature Bundle Explained

The Cash Releases feature bundle is the company’s response to the shifting ecosystem. The new features directly address changes in consumer money management and spending, while opening the door for new technologies to flourish.

Specifically, CashApp has released 11 product updates alongside +150 enhancements to their current offerings. These features will open the door for the company’s vast user base to interact in a secure and seamless manner with the digital asset space, alongside simplifying basic tasks like money management. Here are the highlights.

MoneyBot

The MoneyBot AI feature provides users with direct access to an AI-powered financial assistant. This AI bot can help you determine your financial state, plan future maneuvers, and gain more understanding of the market conditions.

MoneyBot learns from your tasks and can adapt to your unique financial requests. Its easy-to-use text interface makes it simple for you to track assets, manage your spending habits, and stay on top of your finances without having to spend hours reviewing expenses and more.

AI Security

Alongside the MoneyBot upgrade, CashApp has enhanced its AI security protections as well. The company announced that its machine learning systems would now analyze real-time data points to prevent threats prior to any damage.

This AI system can scan thousands of potential threats in real time, enabling you to avoid phishing scams and other popular methods used to defraud CashApp clients. Notably, the first iteration of this security feature emerged in 2020. Since that time, the AI security has prevented +$2B in potential losses for users.

These AI features come alongside a host of personal security options. Notably, CashApp continually expands its support for enterprise-grade technology, enabling users to leverage biometric authentication, security locks, cash PINs, and protective card locking options directly from the user interface.

New Bitcoin Features: Pay With BTC Via Lightning & USD Auto-Conversion

One of the most exciting upgrades made to CashApp was the Bitcoin Payments with USD feature. This option allows users to pay directly with Bitcoin, even if they don’t actually hold any Bitcoin in their account. To accomplish this task, the company has reversed the strategy used by Bitcoin debit card providers for years.

In this scenario, instead of the Bitcoin converting to cash at the time of sale, it’s the USD that converts to Bitcoin during the transaction. This conversion takes seconds, lasts as long as a normal card transaction, and can be used anywhere that accepts Bitcoin.

CashApp executives touted the upgrade for several reasons, including that it will help users avoid card fees. Also, it helps to promote international payments while enabling millions of new users to access the world’s first cryptocurrency.
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Lightning Network

Wisely, CashApp integrated the Lightning Network as part of its upgrades. The Lightning Network is a popular second-layer protocol designed to alleviate Bitcoin’s mainnet congestion. It relies on personal payment channels that only post to the mainnet when they close.

The Lightning Network significantly reduces the cost and time of Bitcoin transactions. As such, it’s seen considerable adoption alongside Bitcoin. Notably, the company piloted the program at Compass Coffee in Washington, D.C., where it was an instant success.

Bitcoin Map

Another key upgrade was the addition of a Bitcoin map. This feature makes it easy to see who accepts Bitcoin in your area. Simply open up the feature, and you will get a detailed map of local merchants. Once there, you can make payments in seconds using Lightning QR codes.

Bitcoin Consumer Confidence

Bitcoin continues to gain consumer confidence. According to recent statistics, 17% of US citizens own some Bitcoin. Even more revealing is that 20% of Americans have stated that they are open to the use of Bitcoin as a daily currency.

Discussing the maneuvers, CashApp executives called Bitcoin “Money 2.0” due to its decentralized structure and access to the global economy. They also went on to describe stablecoins as a happy medium between USD and Bitcoin, labeling the digital assets as “Money 1.5” for comparison purposes.

CashApp Stablecoin Transfers and Conversions

CashApp users can now send and receive stablecoins thanks to the new upgrades. Stablecoins are digital assets that use reserves to remain pegged to the value of USD or other fiat currencies. These coins have been in the spotlight lately as the US recently passed new laws making it easier and more transparent to issue these assets.

CashApp sees the value in stablecoins for many reasons. For one, they offer many of the advantages of Bitcoin, like international low-cost transfers. Notably, the app now supports direct conversions from USD to several stablecoins, opening the door for further daily use.

Auto-Invest Bitcoin Feature

The auto invest feature enables users to effortlessly build up their Bitcoin reserves. The option can be set up in a few different ways. The first method is to preset recurring purchases. This method can help to reduce your overall expenses when stacking sats by cost-averaging your purchases over time.

The other option is to have the platform round up and save the difference on payments you make. This style of no-effort saving has become popular in recent years. For many people, this is the best way to ensure that they add to their savings consistently.

CashApp Green

CashApp Green is a rewards program designed to benefit those who spend more than $500 on their CashApp monthly. These users gain access to some cool benefits like no-fee ATMs, direct customer service lines, borrowing services with higher limits, no overdraft charges, and discounts at their favorite shops.

CashApp Borrow

Another unique feature that just rolled out is the CashApp Borrow service. This option, which is currently available in 8 states, enables users to take out microloans of up to $500 as first-time borrowers. This service doesn’t use your credit, opening the door for many more users to access the funding when needed.

CashApp Background: Growth, Revenue, and Market Position

CashApp was founded by Bob Lee, Jack Dorsey, and Brian Grassadonia in 2013. Its goal was to provide financial services to the billions of underbanked and non-banked citizens. Notably, CashApp is a subsidiary of Square, which was renamed to Block Inc.

Today, CashApp is a dominant force in the mobile finance sector. The company has projected revenue of $18.5B for 2025 and is predicted to secure $11.5B in trading revenue as well. Its primary demographic is users aged 25-34, making it ideal for the deployment of next-generation assets like Bitcoin and stablecoins.

CashApp Future Plans

CashApp has no plans to slow down its blockchain integration. Already, the company has stated that it’s working on several new Bitcoin-focused features to be released in the coming months. One highly anticipated upgrade will be the auto-sweeps to the self-custody wallet option.

Also, the company has some projects in the works with the crypto-friendly merchant processor, Square. Square is known for its blockchain support, including offering merchants unique options like auto save and convert from or to Bitcoin. Now, the two companies are working together to provide merchants with several next-generation options.

What’s Next for CashApp’s Crypto Roadmap

CashApp continues to introduce smart and helpful blockchain features that drive adoption and integration. These latest updates are sure to introduce even more of its user base to Bitcoin and help build confidence in the global decentralized economy. For that reason and many more, CashApp deserves a salute.

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