With Cash App, you can now send as little as $1 in stock or bitcoin. It’s as easy as sending cash, and you don’t need to own stock or bitcoin to gift it. So this holiday season, forget the scented candles or novelty beach towel, and help your cousin start investing. pic.twitter.com/HS0CqusiLS
— Cash App (@CashApp) December 14, 2021
This September, the Cash App reported 70 million annual transacting users and gross profit worth $1.8 billion (roughly Rs. 13,693 crore) from its markets, the UK and the US.
“Cash App uses advanced security features to protect millions of people and payments each year. From verification locks to data encryption, we take steps to make sure your money and information are safe,” claims Dorsey’s app website.
Block and Cash App are, however, not the first digital payment platforms to stitch the crypto element with their services ahead of the Christmas and New Year festivities.
PayPal and Coinbase are also allowing users to wrap up crypto assets as gifts and payments for third parties.
In fact, stock and crypto trading platform Robinhood is also expanding its services by adding the crypto gifting feature to its popular app. Still in its Beta version, the feature is presently being tested, Bloomberg reported.
Most platforms that are beginning to offer this crypto-gifting option are based and functional in the US.