Block’s mobile payment service also announced a feature to round up payments to buy bitcoin with the difference, and the ability to send bitcoin using the Lightning Network.Read MoreFeedzy
Cash App, the mobile payment service developed by Jack Dorsey’s Block, Inc. (SQ), announced that they are rolling out three new services at the Bitcoin 2022 conference in Miami on Thursday.
“Get Paid in Bitcoin” allows customers to auto-invest a percentage of their paycheck into bitcoin. Fiat currency coming in through automated clearing house (ACH) rails will be automatically converted into bitcoin.
“Bitcoin Roundups” lets users round up payments to the nearest dollar to buy bitcoin with the difference.
“Lightning Network (LN) Receives” LN sends out of Cash App were enabled in January, but now users can receive bitcoin into the Cash App via LN.
Cash App is also providing support for URIs, or Unified QRs that are enabled by BIP 21. URIs allow for the generaization of address types so that users don’t have to think about the correct address type – either on-chain or Lightning Network payments – to use to send and receive bitcoin. With this upgrade, Cash App users can opt in to not having to choose between address types.
Cash App announced that tennis star Serena Williams is partnering with the company, but declined to provide specific details. She follows a string of major sports stars that have signed partnerships and endorsements with crypto firms, including Tom Brady and Steph Curry with FTX and LeBron James with Crypto.com.
Cash App integrated Lightning Network in January, which paved the road for consumers to easily use bitcoin at point-of-sale. Cash App also remains a popular avenue for buying bitcoin after it was the first public company to allow for bitcoin purchases in 2018.
Miles Suter, Cash App’s crypto product lead who gave the presentation at Bitcoin 2022, said that the goal of Cash App was to redefine the world’s relationship with money and bitcoin, aiming to get bitcoin in the hands of as many people as possible.
DISCLOSURE
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Crypto pundit Ardizor has alleged that several crypto firms appear to be dumping Bitcoin, which…
Iranian negotiators arrived in Doha for talks, focusing on the Strait of Hormuz and highly…
Bitcoin is struggling to push above $78,000 as the market faces uncertainty that has made…
Bitcoin’s latest price action has run into a technical wall, and crypto analyst Merlijn The…
A New York man identified in court documents only as Noah Doe has filed a…
Investors turn to HYPE and XRP funds while dumping bitcoin and ether ETFs.Read MoreCoinDesk: Bitcoin,…