Square

Square testing its payment app its inside buying and selling bitcoin

News

Square money moved beyond sending money in Feb 2016 once it started letting users store their funds in account reserves, digital wallet-style. beginning today, you’ll be able to use the service’s mobile app to stash another kind of currency: Bitcoin. but only choose users are seeing the feature.

“We are always listening to our customers and we have found that they are interested in using the cash app to shop for bitcoin,” a Square spokesperson told when reached for comment. “We are exploring how to square make this experience quick and easier, and have to release in this feature to a small number of cash app customers. We believe that cryptocurrency will affect people’s ability to participate in the global financial system and we’re excited to learn more here.”

Currently, only users can buy, sell and store bitcoin – cannot send them to other users. Given cryptocurrency’s volatile nature, the service’s cautious rollout makes sense. but bitcoin is certainly the biggest fish in this ocean — and it’s having a banner year, climbing in worth from just under $1000 per unit in Jan to a peak of over $7000 this month.

Despite all the ransomware and scandals associating the leading cryptocurrency with shadier corners of the net, exchanges keep building out their bitcoin infrastructure. And the future of America’s cash flow goes away from paper currency and toward cards and apps, maybe square money is wise to try combining its service with tomorrow’s currency.

Leave a Reply

Your email address will not be published. Required fields are marked *