XYZ · 8-K · 20260805PR335117

Square Financial Product Expansion

Block, Inc. · 2026-08-05 · Importance 40 · Surprise 42 · In source text

Square Card exceeded $1 billion in annualized spend during the quarter, indicating increased adoption of Square’s financial products among sellers. Square Loans continued to drive momentum in Financial Solutions, while Block expanded deposit-taking capabilities through high-yield savings accounts for eligible Square sellers. Square Financial Services processed its first Square acquiring transaction in June. Block expects to shift more Square and Cash App acquiring volume to Square Financial Services over the coming years.

Key facts

• Square credit card scaled to over $1 billion in annualized spend in Q2 2026. source
• Cash App Mobile launched as a $40-per-month unlimited 5G wireless plan. source
• Block launched stablecoins on Cash App with a seamless integration with USDC allowing customers to transact in stablecoins across numerous blockchains and interchange USDC and traditional dollar balances within Cash App. source
• Block expects to shift more Square and Cash App acquiring volume to Square Financial Services (SFS) over the coming years; in June SFS processed its first Square acquiring transaction. source

Impact estimates