Square’s Cash app to implement Bitcoin's Lightning Network
|- Square CEO Jack Dorsey said he’s working with Lightning Labs to bring the Lightning Network to Square’s Cash app.
- Dorsey also said that the app has already exposed Bitcoin to users around the world by giving them a way to spend BTC using the company’s Visa debit card.
Square CEO Jack Dorsey said that he’s working with Lightning Labs to bring the Lightning Network to Square’s Cash app. Speaking on Stephan Livera’s Bitcoin Podcast, Dorsey said:
“We’ve been exploring with Elizabeth and the Lightning team…We would love to make it as fast and efficient and transactional as possible, and that includes looking at our seller base and our register. It’s not an ‘if’. It’s more of a ‘when’. And how do we make sure we’re getting the speed we need and the efficiency. A lot of what we’ve worked on the seller side is making transactions as fast as possible.”
Dorsey also stated that the app has already exposed Bitcoin to users around the world by giving them a way to spend BTC using the company’s Visa debit card.
“I think we have a pretty compelling experience that people who would not necessarily be able to get to Bitcoin in the past can now get to it with just one tap, and they can plug right into that 24-hour network and see it living and breathing. So we do intend to continue to expand it and do so in a way that feels simple, that feels approachable.
Ultimately, what Cash comes down to is accessibility. How do we increase the amount of people that can participate in the economy more broadly. And Cash has gone a really far way in that. We see people who have never had a bank account start with Cash and use it to store their money, get the Cash Card, personalize it and spend it wherever they are. And certainly people can buy Bitcoin and sell the Bitcoin, and that goes into their Cash account which they can then spend using their Visa card.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.