Financial service company Square is reportedly now testing out bitcoin on some of its Cash mobile app users. The new feature will allow users to buy and sell the cryptocurrency through the app.
The Square Cash App claims to be the simplest way to pay people. Sending and receiving payment are free and instant, with standard deposits show up the very next business day. The mobile app, which is available in iTunes App Store or Google Play, can be used for both personal and business (2.75% fee paid by the recipient) purposes.
While sharing details about the bitcoin exchange features, a spokesperson reportedly shared with TechCrunch:
“We’re always listening to our customers and we’ve found that they are interested in using the Cash app to buy bitcoin. 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.”
Square Cash is now available to residents of all 50 United States (not available in U.S. territories such as Puerto Rico, Guam, the U.S. Virgin Islands, American Samoa, and Northern Mariana Islands or outside the U.S.) Residents must be 18 years or older and located within the U.S. to use Cash.
