Home Payments Payments Behemoth Square Tests Buying & Selling Bitcoin In App

Payments Behemoth Square Tests Buying & Selling Bitcoin In App


OMG, the bitcoin revolution knows no ends.  We have many contacts at major trading platforms and we have been yelling from the rafters that they should be adding not just the coming bitcoin futures, but bitcoin trading to their traditional trading platforms as well. So far, no takers, so fine.  Their loss.  In the meantime, here comes Square, the ginormous multi-faceted payments firm that offers payments, point of sale, deposits, invoices, e-commerce, payroll and more.  This innovative firm has decided to test buying and selling bitcoin on its app, in response to customer demand.  Brilliant.
(Cindy Taylor/Publisher)

“Square Cash moved beyond sending money in February 2016 when it started letting users store their funds in account reserves, digital wallet-style. Starting today, you can use the service’s mobile app to stash another type of currency: bitcoin. But only select users are seeing the feature.

“We’re always listening to our customers and we’ve found that they are interested in using the Cash app to buy bitcoin,” a Square spokesperson told Engadget when reached for comment. “We’re exploring how Square can make this experience faster and easier, and have rolled out this feature to a small number of Cash app customers. We believe cryptocurrency can greatly impact the ability of individuals to participate in the global financial system and we’re excited to learn more here.”

Currently, users can only buy, sell and store bitcoin — not send them to other users. Given cryptocurrency’s volatile nature, the service’s cautious rollout makes sense…”

Full Story at Engadget