RATE Group | Square Cash Eclipses Venmo In Popularity, But Is It Thanks To Bitcoin?
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Square Cash Eclipses Venmo In Popularity, But Is It Thanks To Bitcoin?

20 Aug Square Cash Eclipses Venmo In Popularity, But Is It Thanks To Bitcoin?

Posted at 06:55h in Bitcoin News by

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Many have likened the fintech industry to the nascent cryptosphere, as both of these growing spaces are set on overthrowing legacy systems with more efficient, innovative, and unique solutions. While these two industries are far from identical from a top-down perspective, Square, a fintech startup, has recently begun to blur the lines between crypto and fintech.

Square Cash app
Image Courtesy of Square

Late in 2017, the fintech firm announced that its so-called “Cash” app would be testing support for the trading of Bitcoin. As the price of the asset reached its peak, Cash launched support for the purchase and sale of Bitcoin.

This move didn’t come as a surprise to many, as Jack Dorsey, the CEO of Twitter and Square alike, has shown fleeting interests and admiration for cryptocurrencies and their underlying technologies. In the announcement regarding the addition of this feature, Dorsey wrote:

We support Bitcoin because we see it as a long-term path towards greater financial access for all. This…

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