Square Crypto Lead: ‘The Product We’re Focusing on Is Bitcoin’
In a Twitter AMA on Monday, Square Crypto made it clear that its focus is on building for bitcoin, not for Cash App.
Square's Cash App has started charging fees of as much as 1.76 percent on bitcoin purchases, sources have pointed out to CoinDesk.
As crypto becomes more widely used, Square will transition to providing a broader range of “internet services” rather than just fintech, Jack Dorsey predicted.
Square processed $148 million in bitcoin sales in the third quarter of 2019.
Square Crypto just hired one of the world’s most prolific bitcoin developers.
Square sold $125 million in bitcoin through its Cash App in the second quarter of 2019, a new record for the payments company.