Square’s Dorsey Pushes His Company as a Leader in Online Crypto Payments
There’s no reason to doubt Bitcoin being the way to pay in the next 10 years, and Square wants to be at the forefront.
Jack Dorsey didn’t mince words when touting his Square as the company to propel the crypto space higher.
As Square’s CEO, Dorsey spoke at Consensus 2018 and said he sees his payment services company being among those at the forefront in establishing cryptos as a legitimate payment choice for merchants and buyers around the world.
How being Square is cool
As a financial institution of sorts, Square has taken the finance community by storm. Its easy payment tools have helped small businesses greatly. So it seems it was a natural fit for it to embrace cryptos and facilitate online payment options in the space.
At Consensus 2018, Dorsey said:
"The Internet is going to have a native currency so let's not wait for it to happen; let's help it happen. I don't know if it will be Bitcoin, but I hope it will be."
Dorsey is a strong believer of cryptos’ potential impact on the payment space, although many others continue to bash them. Dorsey is enamored to the point that he thinks that Bitcoin could easily become a global currency. At the end of the day, Dorsey wants Square to be the way to enter new markets around the world.
He feels so strongly about cryptos that he sees the possibility of releasing Square’s apps in every app store around the world .
Square boasts having 21 business apps that it can sync. These include Weebly, Ecwid, and ShipStation.
Cash app holding strong
This isn’t the first time Dorsey has promoted Bitcoin as having the potential to be the payment of choice in the future. We told you in March about him telling a London-based media outlet that Bitcoin has the potential to not only be a choice ‘HODLrs,’ but it could also grow in popularity as the choice for those who want to make purchases with it.
Dorsey has also been actively positioning Square as a leader when it comes to processing Bitcoin payments. During its last quarter, Square reportedly sold about $34 million worth of bitcoins through its Cash app. We’ve reported to you that Square has expanded its Cash App to allow more users to buy and sell Bitcoin with their phones.
The app was rolled out to select users last year, but now the number of users has been expanded to include most of its customers. It’s estimated that there are roughly seven million users.
Dorsey is a personal investor in bitcoin and has said that he expects the digital currency to be used for simple things like coffee. The CEO predicted a 10-year timeline "but it could go faster," he’s said.