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  • The VASP application was withdrawn in May, and there are no immediate plans to launch new products in Ireland.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.
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