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Saturday, November 25, 2017

Crypto News: Square is taking on the big cryptocurrency exchanges — and it represents a $30 million opportunity

Square is taking on the big cryptocurrency exchanges — and it represents a $30 million opportunity

Square, the online payments company founded by Twitter's Jack Dorsey, has been running a trial that allows users of its Cash App to buy and sell bitcoin.

And both Wall Street and the crypto world thinks the company stands a good chance at breaking into the nascent digital coin market.

Square added the feature to Cash, a rival to Venmo, because users asked for it, the company said in a statement. It said it is still trying to figure out how to make it "faster and easier" and is only offering it to a "small number" of Cash users. A full roll-out of the feature would put Square up against cryptocurrency exchanges such as Coinbase and Gemini.

Crypto-fanatics took to Twitter over the weekend to praise the new product, adding that it poses a big threat to existing bitcoin trading platforms.


Full story at http://read.bi/2k115eR


Source: Business Insider Nordic


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