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Square Cash, Line Announce In-App Cryptocurrency Buying And Selling

February 2, 2018 12:55 AM

Square Cash and LINE, two popular mobile apps, have announced that they will support the buying and selling of cryptocurrency on their platforms.

On January 31, Square, Inc. announced that its Cash App had begun to support the buying and selling of bitcoin. The firm’s statement claims that “most of our buys and sells happen in seconds.”

In a tweet, Square (and Twitter) CEO Jack Dorsey said that “Instant buying (and selling, if you don’t want to hodl) of Bitcoin is now available to most Cash App customers.”

That same day, LINE Corporation, the company behind the LINE messaging app, which is one of the most widely used in several Asian countries, revealed plans to integrate a new range of “financial services, including a place to exchange and transact virtual currencies, loans, and insurance,” into the app itself.

The Japanese firm reports that it has applied to the country’s Financial Services Agency for status as an authorized digital asset exchange.

Last year, the application incorporated a feature called LINE Pay, which supports the sending and receiving of fiat currency.

On January 23, Stripe, a company that offers a commercial payments service, announced that it would stop processing payments denominated in bitcoin, citing increases in transaction fees and processing times.

Shortly thereafter, a twitter account operated by Lightning Network personnel replied to a tweet relating to the announcement, offering to “chat about integrating lightning support for bitcoin” on the platform. Stripe CEO Patrick Collison “liked” the reply.

Adam Reese is a Los Angeles-based writer interested in technology, domestic and international politics, social issues, infrastructure and the arts. Adam is a full-time staff writer for ETHNews and holds value in Ether and BTC.

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