Block’s Cash App withdraws bid for Irish virtual asset licence
- Cash App withdraws VASP license application in Ireland.
- The peer-to-peer platform sought a license from Ireland’s central bank for virtual asset and cryptocurrency services.
- Cash App, part of the US fintech group Block, allows users to send and receive funds in fiat and cryptocurrency.
- Currently living in the US and the UK, Cash App aimed to expand its services to the Irish market.
- The VASP application was withdrawn in May, and there are no immediate plans to launch new products in Ireland.
- Cash App previously conducted a limited pilot of its services in Ireland but concluded the program in August.
- Parent company Block shut down some European businesses for better returns, affecting payments app Verse and BNPL platform Clearpay in specific countries.
- Cash App has not responded to inquiries regarding the withdrawal of its VASP application.