Square Cash App Supports All 50 US States
Square Cash, a fund transfer/payment app, is now branching out and is supporting BTC trading throughout all 50 states within the US. According to a post on Twitter on the 13th of August, this is taking place immediately.
Square Cash enabled users to purchase and sell BTC through the app in November of 2017, although at the time the service was limited to a few select states. Since then Square Cash has grown and expanded its service to drawn in even more users. Through the app, a user can facilitate any transaction within seconds and spend their Bitcoins at any physical outlet of a store by utilizing a VISA card granted to users by the company.
Over a month and a half ago, Square successfully acquired the much desired BitLicense in New York, enabling the company to begin operating its application within New York. According to a statement by Square this February, the company’s users have reacted positively to Square Cash, essentially approving of an app designed to simplify purchasing Bitcoin and selling it. By observing the applications pilot test, the company has picked up on even faster and more efficient updates and looks forward to the nationwide expansion.
Jack Dorsey, the founder of Square, has been a BTC advocate for quite some time. In addition, Square’s business solutions have enabled many vendors to start accepting the coin over four years ago in 2014. Enabling everyday users to trade BTC as an option on the app is a significant step for the company. A recent financial report, albeit unaudited, revealed that BTC gains of the company for the three months leading up to the end of June were recorded to be over $37M, an 8.5 percent increase from the previous quarter.
The company’s BTC service has drawn in $00K in earns during Q2 of 2018. This is not the first time a payment application has been launched with a specific purpose only to end up introducing a BTC trading feature for users. Robinhood, another app, has launched a cost-free stock trading application.