Cash App and Square are both owned by Block, Inc., a publicly traded financial technology company whose Class A shares trade on the New York Stock Exchange under the symbol XYZ, according to Block's 2025 Form 10-K. Block is the parent company; Square and Cash App are two of its business units, or "ecosystems," alongside Afterpay, TIDAL, and a set of bitcoin products.
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The short answer to "who owns Cash App" is therefore "Block's shareholders," but ownership and control are not the same thing at Block. Index funds such as The Vanguard Group hold the largest blocks of the publicly traded shares, while co-founder Jack Dorsey controls the largest share of the vote through high-vote Class B stock. Block's 2026 proxy statement puts Dorsey at 42.2% of total voting power as of March 31, 2026.
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This page answers both "who owns Cash App" and "who owns Square" in one place: the corporate history, the shareholder table from SEC filings, the brand family, and the partner banks that actually hold Cash App customer balances.
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Cash App is owned and operated by Block, Inc., the same company that owns Square. Cash App is not a separate company with its own shareholders. It is a business unit inside Block, so anyone who owns Block stock owns a slice of Cash App, and Block's board and executives make its decisions.
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Cash App's own Terms of Service identify Block, Inc. as the operator and state that "Cash App is a financial services platform, and not an FDIC-insured bank." Block reports Cash App as one of its two main segments. In its 2025 Form 10-K, Block said Cash App had 59 million monthly transacting actives in the United States as of December 2025 and generated $6.3 billion of gross profit in 2025, up 21% year over year.
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Because Cash App sits inside a public company, its financials, risks, and ownership are disclosed in Block's annual and quarterly SEC filings rather than in a standalone report. That is also why a search for a "Cash App owner" returns Block and Jack Dorsey: the company is the owner, and Dorsey is its controlling stockholder by votes.
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Square is also owned by Block, Inc. Square was the original business and the original company name. The parent company later renamed itself Block so the Square brand could refer only to the seller business, meaning the payments, point-of-sale software, and hardware used by merchants.
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Block's December 1, 2021 press release announced that Square, Inc. would legally change its name to Block, Inc. on or about December 10, 2021. Jack Dorsey explained the move this way: "We built the Square brand for our Seller business, which is where it belongs." The same release noted that the company had added Cash App, TIDAL, and TBD54566975 as businesses since its start, and that Square Crypto was renamed Spiral.
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The ticker followed later. Block's January 2025 announcement said the Class A stock would trade on the NYSE as XYZ, replacing SQ, effective January 21, 2025, with the ASX code changing on January 22, 2025. According to the 10-K, Square generated $3.9 billion of gross profit in 2025, up 9% year over year, and Block started with the Square ecosystem in February 2009.
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Block's largest holders of publicly traded Class A shares are large asset managers, led by The Vanguard Group, T. Rowe Price, and BlackRock. Jack Dorsey owns a small slice of Class A stock but most of the high-vote Class B stock, which makes him the largest holder of voting power by a wide margin.
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The table below reproduces the beneficial ownership figures reported in Block's 2026 proxy statement (DEF 14A), which measures holdings as of March 31, 2026. Figures for the three asset managers come from their Schedule 13G filings, as the proxy notes. Percentages under 1% are shown as "under 1%" because the proxy reports them with an asterisk.
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Two details matter when reading the Vanguard line. The proxy footnote says Vanguard's figure is based on a Schedule 13G/A reporting holdings as of September 30, 2025, and that Vanguard later filed a 13G/A on March 26, 2026 describing an internal realignment under which some subsidiaries will report their holdings separately. Future filings may therefore show Vanguard's position split across entities rather than as one line.
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The rest of the Class A stock is spread across many holders. Block's 10-K counted 442 holders of record of Class A stock and 22 holders of record of Class B stock as of February 20, 2026, and cautions that most Class A shares sit with brokers and institutions on behalf of beneficial owners, so the true number of investors is far larger.
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Yes, by votes. Jack Dorsey does not own a majority of Block's shares, but his Class B stock carries ten votes per share, giving him the largest single block of voting power. Together with the other directors and officers, insiders hold a majority of the total vote.
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Block's 10-K states that "Our Class B common stock has ten votes per share, and our Class A common stock has one vote per share." Class B shares are not publicly traded; the same filing notes there is no public market for them. They convert into Class A shares on a share-for-share basis, and the 10-K explains they generally convert on transfer, so the high-vote structure erodes over time as holders sell.
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The arithmetic shows why a small economic stake can mean large control. In the 2026 proxy, Dorsey's 47.8 million Class B shares are a modest fraction of Block's total share count, yet they give him 42.2% of the vote. Vanguard holds more shares than Dorsey in total but has 6.0% of the vote, because all of its shares are one-vote Class A stock. The executive officers and directors as a group control 53.3% of voting power, per the same table.
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For shareholders, this means outcomes on board elections and charter changes depend heavily on insiders. The 10-K's risk factors describe the dual-class structure as something that will "limit or preclude your ability to influence corporate matters." Readers comparing fintech governance can see a different pattern at PayPal, which is covered in who owns PayPal.
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Block owns a family of consumer and business brands: Square for sellers, Cash App for consumers, Afterpay for buy now, pay later, TIDAL for music streaming, and bitcoin products including Bitkey and Proto. It also owns Square Financial Services, a subsidiary bank that supports lending products.
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The table below lists each brand, what it does, and how it joined Block. Each cell links to the filing or press release that confirms it.
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The TIDAL deal had a governance angle as well. The 8-K disclosed that Shawn Carter, who joined Block's board, and affiliated entities received about $63.4 million in combined cash and stock in the transaction. Carter still appears in the 2026 proxy ownership table as a director with under 1% of Class A shares.
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Afterpay also brought leadership into Block. According to the completion announcement, Afterpay co-founders Nick Molnar and Anthony Eisen joined Block to lead Afterpay's seller and consumer businesses. Eisen is listed in the 2026 proxy as a director holding 2,164,397 Class A shares.
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Cash App is not a bank. It is a financial services platform run by Block that relies on licensed partner banks to hold customer balances and issue its debit card. Customer funds sit at those partner banks, which is how eligible balances can receive pass-through deposit insurance when conditions are met.
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Cash App's Terms of Service name three partner banks for balances: Wells Fargo Bank, N.A., Sutton Bank, and The Bancorp Bank, N.A. The terms say the Cash App balance and savings balance are eligible for FDIC pass-through insurance through those banks, with Block acting as agent that holds funds on customers' behalf rather than as a depository institution.
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Block's 10-K describes the Cash App Card as "a debit card, issued by our bank partner," linked to the customer's Cash App balance and usable anywhere Visa is accepted. The filing also says direct deposit and lending products are offered through Square Financial Services and third-party bank partners, and that Cash App aims, with those partners, to become one of the top banking providers for U.S. households earning up to $150,000 a year.
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This partner-bank model is common among consumer payment apps. Venmo, owned by PayPal, follows a similar approach; see who owns Venmo. For how money actually moves between these banks and apps, the payment rails explainer covers ACH, card networks, and real-time systems, and FedNow vs Zelle compares two bank-to-bank options.
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Most large public companies have one share class, so the biggest index funds are also the biggest voters. Block differs because of its dual-class stock. Asset managers own the most shares, but founders and insiders hold most of the votes, which separates economic ownership from control. Source: Block's 2026 proxy statement.
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The gap is visible in Block's own numbers. Per the 2026 proxy, Vanguard, T. Rowe Price, and BlackRock together hold about 28.9% of Class A shares but 13.6% of total voting power. Directors and executive officers hold 1.5% of Class A shares plus 99.7% of Class B shares, adding up to 53.3% of the vote.
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Three practical effects follow for anyone evaluating Block as a customer, partner, or investor:

For treasury and payments teams, the takeaway is simpler than the cap table. Contracts for Square processing or Cash App for Business are with Block entities, and the partner banks named in the Cash App terms are where consumer balances are held.
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Readers asking who owns Cash App usually want to know the parent company, whether Jack Dorsey still runs it, and whether Cash App and Square are the same company. The short answers: Block, Inc.; yes, as its largest voting holder; and yes, both sit inside Block.
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Not quite. Cash App and Square are sibling businesses under the same parent, Block, Inc. The parent company was called Square, Inc. until its legal name change to Block in December 2021, per the Block press release, which is why older articles say Square owns Cash App.
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XYZ on the NYSE. It changed from SQ effective January 21, 2025, according to Block's announcement. Block's CHESS Depository Interests also trade on the ASX as XYZ, per the 10-K.
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As of March 31, 2026, Dorsey beneficially owned 1,000,000 Class A shares and 47,844,566 Class B shares, giving him 42.2% of total voting power, according to the 2026 proxy statement.
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By share count of the public Class A stock, The Vanguard Group, at 12.8% of Class A shares in the 2026 proxy. By voting power, Jack Dorsey.
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Block's structure is one example of how payment brands, parent companies, and partner banks stack together. Eco, which builds stablecoin payment infrastructure, publishes explainers like this one on how those layers fit.
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