Who owns Cash App? Jack Dorsey and Block, Inc. Explained"

Last Updated: May 19, 2025

Portrait of Jack Dorsey, founder of Cash App

With the growing popularity of digital payment platforms, Cash App has emerged as one of the leading mobile payment services in the United States and the United Kingdom. Millions of users rely on Cash App for sending and receiving money, direct deposits, investing in stocks and Bitcoin, and making payments using the Cash Card.

But have you ever wondered: Who owns Cash App?

Cash App is owned by Block, Inc. (formerly known as Square, Inc.), a financial technology company founded by Jack Dorsey (co-founder of Twitter) and Jim McKelvey in 2009. Block, Inc. is a major player in the financial services industry, offering various products that help businesses and individuals with digital transactions.

In this blog, we’ll explore the history of Cash App, its parent company Block, Inc., and how its ownership influences the platform’s growth and security.

What Is Cash App?

Cash App is a peer-to-peer (P2P) payment service that allows users to send and receive money instantly. Since its launch in 2013, the app has expanded its services to include:

Instant money transfers between users
Direct deposit capabilities for paychecks
Cash Card (a Visa debit card) for purchases and ATM withdrawals
Stock and Bitcoin investing
Cash Boosts (discounts on certain purchases)

Although it provides banking-like services, Cash App is not a bank. Instead, it partners with banks such as Sutton Bank and Lincoln Savings Bank to provide its financial services.

Who Owns Cash App?

Block, Inc. (Formerly Square, Inc.)

Cash App is owned and operated by Block, Inc., a publicly traded financial technology company. Block, Inc. was originally known as Square, Inc. before rebranding in December 2021.

Block, Inc. is best known for providing digital financial solutions, including:

Square – A payment processing platform for businesses
Cash App – A peer-to-peer payment and banking-like service
Tidal – A music streaming service (acquired in 2021)
Spiral – A division focused on Bitcoin development
TBD – A platform for decentralized finance (DeFi)

The company is headquartered in San Francisco, California and is traded on the New York Stock Exchange (NYSE) under the ticker symbol SQ.

The Founders of Block, Inc. (Formerly Square, Inc.)

Jack Dorsey: The Visionary Leader

Jack Dorsey is a co-founder of Block, Inc. and one of the most influential figures in the tech world. He is best known as the co-founder and former CEO of Twitter.

Dorsey co-founded Square, Inc. in 2009 with the goal of creating simple payment solutions for small businesses.
Under his leadership, Square launched Cash App in 2013, originally called "Square Cash."
In December 2021, he rebranded Square to Block, Inc. to reflect the company’s expansion beyond payment processing.

Jack Dorsey has a strong passion for Bitcoin and decentralized finance, which has influenced Cash App’s Bitcoin investment feature.

Jim McKelvey: The Co-Founder

Jim McKelvey is an entrepreneur and co-founder of Square (now Block, Inc.). While he is less involved in the company’s daily operations today, his contributions helped shape Square’s initial payment technology.

Why Did Square Rebrand to Block, Inc.?

In December 2021, Square, Inc. officially changed its name to Block, Inc. This rebranding was a strategic move to:

Differentiate the company’s products – Square was initially known for business payment solutions, but the company had expanded into new areas like personal finance (Cash App), cryptocurrency (Spiral), and music streaming (Tidal).
Emphasize blockchain and cryptocurrency – The name "Block" reflects Jack Dorsey’s increasing focus on Bitcoin and decentralized finance (DeFi).
Unify the company’s different brands – Under Block, Inc., Square, Cash App, Tidal, and other divisions now have a shared corporate identity.

While the parent company changed its name, Cash App remains the same and continues to operate under Block, Inc.

How Block, Inc. Makes Money from Cash App

Although Cash App is free to use, Block, Inc. generates revenue in several ways:

1. Transaction Fees

Cash App charges a 3% fee for credit card transactions.
Instant transfers to a bank account incur a 0.5%–1.75% fee.

2. Bitcoin Transactions

Cash App allows users to buy and sell Bitcoin and charges a small percentage fee on each transaction.
Bitcoin trading is a major revenue source, contributing over $10 billion in revenue in 2021.

3. Cash Card Interchange Fees

When users make purchases with the Cash Card, Cash App earns a small fee from the merchants (known as interchange fees).

4. Investing Fees

Cash App users can invest in stocks commission-free, but the company earns revenue through order flow payments from market makers.

5. Business Services

Cash App also offers a business account that charges a 2.75% fee per transaction for merchants who use the app for payments.

These revenue streams have helped Cash App grow into a multi-billion-dollar business under Block, Inc.

Cash App is a mobile payment platform that was launched in 2013 by Square Inc. Square Inc. is a San Francisco-based financial services company founded by Jack Dorsey and Jim McKelvey in 2009. The company started as a credit card processing service for small businesses and has since expanded to offer a range of financial products, including Cash App.

Cash App has quickly become one of the most popular mobile payment platforms in the United States, with over 30 million active users as of December 2021. The platform allows users to send and receive money, buy and sell Bitcoin, invest in stocks and exchange-traded funds (ETFs), and even get a debit card linked to their Cash App account.

So, who owns Cash App? As mentioned earlier, Cash App is owned by Square Inc. Square Inc. is a publicly traded company listed on the New York Stock Exchange (NYSE) under the ticker symbol SQ. As of March 2023, the company has a market capitalization of over $150 billion and is one of the largest financial technology companies in the world.

Jack Dorsey, the co-founder and CEO of Twitter, also co-founded Square Inc. and currently serves as the CEO of the company. Dorsey has been a strong advocate for the use of cryptocurrency and blockchain technology, and has made several investments in the space. In 2021, Square Inc. changed its name to Block Inc. to reflect its focus on blockchain-based financial services.

Aside from Dorsey, other key executives at Square Inc. include:

Amrita Ahuja (CFO)

Sivan Whiteley (Chief People Officer)

Jesse Dorogusker (Hardware Lead)

Brian Grassadonia (Cash App Lead)

Alyssa Henry (Seller Lead)

David Viniar (Lead Independent Director)

Square Inc. has several major investors, including:

Vanguard Group Inc.

BlackRock Inc.

Fidelity Management & Research Co.

Morgan Stanley

Jennison Associates LLC

T. Rowe Price Associates Inc.

In 2020, Square Inc. made headlines when it announced that it had purchased $50 million worth of Bitcoin to hold on its balance sheet. The move was seen as a major endorsement of the cryptocurrency by a major financial services company.

Cash App has faced some regulatory challenges in recent years, particularly around its Bitcoin trading and investing features. In 2021, the U.S. Securities and Exchange Commission (SEC) threatened to sue the company over its plans to launch a new product that would allow users to buy and sell stocks on the Cash App platform. The SEC argued that the product would be an unregistered security offering, and Square Inc. eventually abandoned the project.

Despite these challenges, Cash App continues to grow in popularity and has become an important player in the mobile payment space. The company's focus on innovative financial products and services has helped it stay ahead of its competitors, and its ownership by Square Inc. gives it the backing of a major financial technology company with a strong track record of success.