Overview

Cash App is a mobile financial services product owned by Block, Inc. (NYSE: SQ), the company founded by Jack Dorsey. What started as a simple way to send money between friends has grown into a full consumer finance platform with tens of millions of monthly active users in the US and UK.

What Cash App actually is

Cash App combines a peer-to-peer wallet, a spend account with a Visa debit card (the Cash Card), commission-free stock and bitcoin trading, direct deposit, and short-term tax filing. Balances are held at Cash App's partner banks with FDIC pass-through insurance when eligible.

Who it's built for

US and UK users who want to send money instantly, use a debit card tied to a mobile balance, and dip a toe into investing or bitcoin without opening a separate brokerage account.

Regulation & safety

Cash App is operated by Block, Inc., a publicly traded company. Banking services are provided through Sutton Bank and Wells Fargo Bank, N.A. (FDIC-member partners). Brokerage services are offered by Cash App Investing LLC, a registered broker-dealer and SIPC member.