Square Crypto, the cryptocurrency arm of the payments company, said in a tweet Friday it has awarded a grant to a designer who's trying to make bitcoin wallets usable by anyone, regardless of technical proficiency.
- The grant seems to be in line with statements made by company CFO Amrita Ahuja at the time Square's investment was announced: "We believe that bitcoin has the potential to be a more ubiquitous currency in the future," Ahuja said. "For a company that is building products based on a more inclusive future, this investment is a step on that journey."
- A more inclusive future that includes bitcoin would also seem to be a profitable one for Square. The company's Cash App has been a major revenue driver for the publicly traded fintech.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.