Who Owns Cash App? (All You Need to Know)

Cash App is one of the most popular peer-to-peer mobile payment systems across the U.S., with millions of users.

So, if you are a regular Cash App user, you might wonder who owns the platform. I did some research, and here’s what you need to know!

Who Owns Cash App in [currentyear]?

Cash App was started by Square Inc., now known as Block Inc, in 2013 to allow users to send and receive money, make payments, and invest. This platform operates in the U.S. and the U.K. and has millions of active users in [currentyear]. While it provides a debit card and financial services, Cash App is not a bank.

Read on for more information about Cash App’s ownership, history, and overall operations, along with other useful and related facts!

What Is the History of Cash App?

Cash App was launched in 2013 as Square Cash to compete with mobile payment apps like PayPal and Venmo.

This P2P payment app was started by Square Inc., now known as Block Inc. It was originally called Square Cash after the parent company.

In 2015, Cash App became available for businesses across the U.S. This allowed business owners and organizations to create accounts on the platform.

Three years later, Cash App added Bitcoin trading to the platform. While users weren’t charged a fee to buy and sell Bitcoin, this changed in 2019.

By 2019, Cash App added stock trading for users in the U.S. Therefore, Cash App users can use this app to send and receive money and invest.

Who Is the CEO of Cash App?

Since Block Inc. owns Cash App, it’s under the company’s founders, Jack Dorsey and Jim McKelvey.

How Much Is Cash App Worth?

Statistics show that in 2021, Cash App generated about $12.3 billion in revenue, with 81% of that revenue coming from Bitcoin trading.

Cash App was worth $73.5 billion as of 2021, accounting for about 25% of Block Inc’s revenue.

Is Cash App a US Based Company?

Is Cash App a US Based Company?

Cash App is based in the U.S. However, it also has operations in the U.K. Cash App launched in the U.K. in 2018, but the customers in this country don’t get a Cash Card.

As well, customers can’t send money between the U.S. and the U.K. and can only transfer money to people within their country.

Which Banks Does Cash App Work With?

Since Cash App isn’t a bank, it partners with two different banks – Lincoln Savings Bank and Sutton Bank, to facilitate transactions.

Sutton Bank issues the Cash App Card, while Lincoln Savings Bank manages the direct deposits.

Therefore, if you need an account and routing numbers from Cash App, you can use the ones associated with these two banks.

Although Sutton Bank issues cards, it’s responsible for other issues related to your card. If it expires, gets damaged, or is lost, you have to contact Cash App customer care for assistance.

Furthermore, Sutton Bank doesn’t maintain or service your Cash App account. You can’t access your funds, transaction history, or other information from Sutton Bank.

Is Cash App Federally Insured?

If you have the Cash App Cash Card, your money is insured by the Federal Deposit Insurance Corporation (FDIC) through the partner banks.

The FDIC covers eligible accounts up to $250,000 per customer. However, investing and Bitcoin accounts are not covered by FDIC insurance.

Is Cash App Safe?

Cash App uses encryption and fraud detection technology to ensure that your money and data are safe.

When you submit any information through the platform, it’s encrypted and sent through secure servers whether you are using data or Wi-Fi.

Additionally, Cash App uses the same fraud detection system and standards used to track Square Point of Sale transactions. They are also PCI Data Security Standard Level 1.

As well, Cash App has built-in security features such as PIN code and Touch ID to protect your account from unauthorized users.

Why Is Cash App So Popular?

Cash App has become quite popular, even in hip-hop culture. It’s also common among consumers due to its services. Here’s what you can do with Cash App:

Receive and Send Money

Once you link your Cash App to an existing bank account, you can start sending and receiving money via the app.

Tap on the $ sign on the main menu to send or receive money. After, use the “Request” and “Pay” tabs to create a payment.

Every Cash App user has a $Cashtag, making it easy to find people or merchants by searching on the app.

As well, you can search for individuals using their names, email addresses, and phone numbers.

Transfer Cash

When you receive cash, you can either keep it in your Cash app account or transfer it to your linked bank account, a process known as cashing out.

You can use the standard option, which takes 1 to 3 days to complete, or choose instant transfers, which are charged 1.75% on the transfer amount.

Add Cash

You can add funds to pay for goods and services. Use the banking tab to fund your Cash App account or load your Cash App card.

To complete the transaction, enter the amount of cash you want to add and transfer it from the bank or your credit card. You can also load paper cash at select merchants.


If you want to invest in stocks or trade in Bitcoin, you can use Cash App. With as little as $1, users can set up automatic buys.

However, remember that you’ll be charged some fees when you use Cash App to invest in stocks and Bitcoin.

How Many Users Does Cash App Have?

Statistics show that Cash App has more than 40 million users in 2022. This number is expected to reach more than 60 million active users by 2026.

To know more, you can also read our posts on Cash App bank name & address, Cash App, and how to unblock someone on Cash App.


Cash App was started by Square Inc., now known as Block Inc, in 2013 to allow users to send and receive money, make payments, and invest. This platform operates in the U.S. and the U.K. and has millions of active users.

While it provides a debit card and financial services, Cash App is not a bank. Cash App uses fraud detection and encryption to keep customer money safe. In addition, the money is federally insured through its bank partners.

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Florence Howard

Florence Howard has been freelance writing for over a decade, and has a vocational background in retail, tech, and marketing. Outside of work, she enjoys listening to rock and metal, and playing with her dog and cat.

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