Afterpay spoke as part of the Senate inquiry into “Australia as a Technology and Financial Center” and Lee Hatton said there would be enough consumer demand to offer crypto services.
Square, Inc. is a financial services and mobile payment company founded in 2009 by Twitter developers Jack Dorsey and Jim McKelvey and is headquartered in San Francisco, California. Square has various products for businesses and individuals. The most noticeable of them are Square Cash and Square Point of Sale (Square POS). The Square Cash app is a mobile payment service application that has recorded 7 million active users in February 2018. Square Cash enables fiat transactions to bank accounts and debit cards. Square Cash also offers Bitcoin purchases and transfer to other users. Square POS is an application for inventory management and business analytics. Square is available in Canada, Australia, the U.K., the U.S. and Japan. It has a strong financial performance and rates of growth, gradually expanding and acquiring new businesses.
Afterpay told the Australian Senate that using crypto could cut payments costs for merchants and that the government should work to create a framework for an AUD-backed stablecoin.6793
While the news is unofficial at this stage, Twitter’s product lead Kayvon Beykpour hinted that there could be an announcement soon.12851
“Maybe you don’t simply get a 20X the value of the business, but could you two, three, four or five X the business? Absolutely,” said Anthony Pompliano.5856
Square will acquire Australian fintech firm Afterpay in a $29-billion stock deal, expecting to close the transaction in Q1 2022.4633
Jack Dorsey’s Square made more than 90% more gross profit than the same period last year, with $546 million coming from Cash App’s Bitcoin services.5121
Jack Dorsey announced earlier this week that Square Inc. is building a new open-source platform for non-custodial Bitcoin services.21011
Jack Dorsey has outlined plans to build an open developer platform focused on creating Bitcoin DeFi services.8776
Jack Dorsey and hardware lead Jesse Dorogusker have both confirmed Square’s plans to develop a Bitcoin hardware wallet.6018
Despite Twitter releasing 140 NFTs on the Ethereum blockchain, Twitter’s CEO continues to reject the altcoin as an investment.29225
Jay-Z and Jack Dorsey emphasized the benefits smart contracts and NFTs can offer to artists.6417
Earlier this month, Dorsey revealed that Square intends to develop an open-source non-custodial Bitcoin hardware wallet.13782
Blockstream is a leading blockchain development company founded by Adam Back in 2014.37317
“Bitcoin is for everyone. It’s important to us to build an inclusive product that brings a non-custodial solution to the global market,” the CEO said.18275
Firms with iconoclastic leaders, like Musk and Dorsey, “would be the most likely to take the plunge” and commit sizable cash balances to crypto.71988