The payments application Cash App, launched by Block, will be ceasing operations in the United Kingdom (UK) after six years.
The app, one of the products of payments firm Block, had been operating in the United Kingdom since 2018.
In a July 18 notice on the payment app’s terms of service, Cash App UK said it would close starting on Sept. 15. According to the app, users can expect “their funds remain safeguarded until withdrawn, even after our service closes.”
“We do not make decisions like this lightly, as we know they impact our customers, our partners, and our team members who have helped us build to where we are today,” said the app.
Former Twitter CEO Jack Dorsey founded Square in 2009, with the firm rebranding to Block in 2021. Cash App, one of Block’s products, allows users to purchase cryptocurrencies like Bitcoin (BTC).
The firm reported more than $2.5 billion in revenue from BTC on Cash App in the fourth quarter of 2023.
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