Square’s Bitcoin Service Now Available In All 50 US States

Announcements, News | August 14, 2018 By:

Payments platform Square has announced that its users can now use Cash App to buy bitcoin in all 50 US states.

In November 2017, Square integrated bitcoin on its Cash App to allow users to buy, sell and hold bitcoins, but not to make payments with it. However, the service was not offered in the states of New York, Georgia, Hawaii and Wyoming due to their more restrictive regulations regarding bitcoin transactions.

In March, Square expanded the service in Wyoming, following the passage of legislation in the state that eases the burden on companies that provide cryptocurrency services. In June, the New York State Department of Financial Services (NYDFS) granted Square a virtual currency license, which allows its users to trade bitcoin in the state.

According to the latest report, Square has generated over $70 million in bitcoin-related activity in the first half of 2018, of which less than a half-million dollars were registered from trading fees.