Square, the $32.7 billion mobile payment company founded by Twitter’s Jack Dorsey, is one step closer to launching its long-awaited crypto project. The company claimed last night that bitcoin mass adoption is “inevitable” and it is close to making its first hire.
Everything we know about Square Crypto so far
In March 2019, Square CEO Jack Dorsey announced his company would hire three or four developers and a designer to work on the open-source Bitcoin ecosystem.
Many Bitcoin developers are volunteers, but Dorsey wants to fund the growth of Bitcoin directly through Square Crypto.
Square already has a stake in the cryptocurrency world. Its Cash App allows users to buy and sell bitcoin, a feature that pulled in $65 million revenue for the company last year. Square is the first and only publicly traded company to support bitcoin purchases.