Block CEO Jack Dorsey says the company will support stablecoins due to customer demand, despite previously advocating Bitcoin as the sole internet money protocol. The move marks a pragmatic turn for one of Silicon Valley’s most vocal Bitcoin advocates.
In a WIRED interview, Dorsey acknowledged the change and said it reflects customer demand rather than a shift in his personal belief. “I don’t like that we’re going to support stablecoins but our customers want to use them,” he said, “I don’t think it’s wise to go from one gatekeeper to another.”
The shift comes as stablecoins surge in popularity and competitors like Stripe and PayPal have integrated stablecoin infrastructure, increasing pressure on Block to offer similar options. This isn’t the first time Block has backed stablecoins; Cash App announced last November it was adding support for stablecoins, making them interoperable with a customer’s USD cash balance.
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