Tag Archives: Square

Revenue Square Earned from Bitcoin Trading in Q1 2018

Digital payments firm Square published its first-quarter earnings report this week, providing insight into how much revenue the company has raised from its recently-launched bitcoin trading platform. The company first rolled out bitcoin trading to a limited number of its Cash App users last year, and in January it unlocked the feature for the remainder of its user base. Continue reading Revenue Square Earned from Bitcoin Trading in Q1 2018

Bitcoin Helps Square’s Stock Bounce

Jack Dorsey’s decision to support bitcoin trading in the Square Cash app is paying off. Payments platform Square Inc, of which Dorsey is at the helm, got a boost on Wednesday after Wall Street analysts said BTC trading would bolster the company’s quarterly results. The app lets customers trade BTC from their Cash App balance almost instantaneously, which is an attractive feature for traders. Continue reading Bitcoin Helps Square’s Stock Bounce

Square Sees Bitcoin as a ‘Transformational Technology’

Digital payments firm Square views Bitcoin as a “transformational technology,” and analysts predict that the company could one day launch a cryptocurrency exchange. The company made waves last year when it announced that it was launching a Bitcoin trading pilot program through Cash App, the firm’s peer-to-peer transaction platform. A month ago, Square released the feature to virtually all of its US-based users, providing them with one of the most seamless Bitcoin purchasing experiences currently available. Square executives discussed the feature following the release of its first-quarter earnings report Tuesday, stating that while Bitcoin trading is “still not material to our results,” the firm views cryptocurrency as “transformational” and intends to build out more products and services that leverage it. Dorsey has issued similar statements in the past. When Square officially released Bitcoin trading to its Cash App customers, Dorsey said that the firm views Bitcoin as a “long-term path towards greater financial access for all.”

Reference: https://www.ccn.com/square-sees-bitcoin-transformational-technology-launch-cryptocurrency-exchange/