Square's Cash App Now Lets Customers Get Bitcoin Back on Purchases

Cash App, the cash-transferal app of payments giant Square, is now allowing customers to get bitcoin back on every transaction.

Previously, Cash App had only allowed clients to get U.S. currency back on transactions.
In November, in the company's Q3 earnings report Square said Cash App generated $1.63 billion of bitcoin revenue, up 11 times from the year-ago period.
The move is another sign of the growing mainstream acceptance of bitcoin and the increasing importance of the leading cryptocurrency to Cash App and to its parent.
It's also likely a move to stay a step ahead of rival PayPal, which recently dove head first into the cryptocurrency arena.
Cash App's upgrade is the latest in a continuing trend of bitcoin-back rewards product offerings, after cryptocurrency lending firm BlockFi announced its partnership with Visa to launch a bitcoin-back credit card in early 2021, per CoinDesk's prior reporting.

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