Amount of BTC Transactions Through Cash App in Q1 2023 Reached $2.2B
Block has reported that the volume of cryptocurrency transactions through its Cash App was estimated to be around $2.2 billion for the first quarter of 2023.
This represented a 25% increase compared to the first quarter of the previous year, when $1.8 billion worth of cryptocurrencies were bought via the application.
The company’s profits rose 32% year-on-year to $1.7 billion, and total revenue was approximately $5 billion.
Cash App’s transaction fee revenue was up 15% to $1.4 billion, with developers earning $931 million in profit.