Here's How the Top Finance App in the U.S. Could Quickly Take the World by Storm
Financial technology (fintech) company Block (NYSE: SQ) has multiple business segments, but arguably none more important than its Cash App ecosystem. In 2019, Cash App accounted for just 25% of the company's total gross profit. By 2021, Cash App's gross profit was 350% larger and accounted for nearly half of Block's total gross profit.
In short, Cash App is fueling an outsized portion of Block's growth. And while growth has been white-hot, it could get even hotter as management sets its eyes on international markets. Here's why.
On July 13, third-party research company Apptopia released a report on the most downloaded finance apps through the first half of 2022. PayPal Holdings (NASDAQ: PYPL) stole the headlines, being the most downloaded finance app in the world with 49 million downloads, way ahead of fourth-place Cash App, with 35 million downloads.
Source Fool.com
