Payments News

On The Web

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Companies

Square Expands Cash App Bitcoin Service to All 50 US States

“Mobile payments firm Square now lets customers buy and sell bitcoins via its Cash App in all 50 U.S. states. The company – which was co-founded by Twitter chief executive Jack Dorsey – announced the service expansion through a Tweet on Monday, months after the firm initially rolled out the bitcoin service to investors in the country.”
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Systems

Bitcoin’s Use In Commerce Keeps Falling Even As Volatility Eases

“A lot fewer people than you probably would have guessed. After peaking at $411 million in September, the amount of money the largest 17 crypto merchant-processing services received in the best-known cryptocurrency has been on a steady decline, hitting a recent low of $60 million in May, according to research that startup Chainalysis Inc. conducted […]
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Companies

Square Sees Profits From Bitcoin Sales Double In Q2

“Mobile payments firm Square said it made $37 million in revenue from bitcoin sales in the second quarter of 2018. The company released an unaudited quarterly financial report on Wednesday, which indicated it made an overall net revenue of $814 million, 6 percent of which came from the cryptocurrency buying service added to its Cash App late […]
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Systems

Crypto Mining Becomes Less Profitable, Shifts Towards ‘Bigger Players,’ Report Shows

“As per the Diar report, the rewards and fees for BTC miners have already reached $4.7 billion in the first three quarters of 2018, around $1.4 billion more than the profits in all of 2017. Miners still gain 54,000 Bitcoin monthly, the outlet continues. However, mining is gradually becoming profitable only for “big guns” as electricityprices are constantly increasing. […]
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Systems

Ohio becomes the first state to accept bitcoin for tax payments

“Starting Monday, businesses in Ohio will be able to pay their taxes in bitcoin — making the state that’s high in the middle and round on both ends the first in the nation to accept cryptocurrency officially. Companies that want to take part in the program simply need to go to OhioCrypto.com and register to pay in crypto whatever […]
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On The Wires

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Systems

INTERCONTINENTAL EXCHANGE ANNOUNCES BAKKT, A GLOBAL PLATFORM AND ECOSYSTEM FOR DIGITAL ASSETS

“Intercontinental Exchange (NYSE:ICE), a leading operator of global exchanges, clearing houses, data and listings services, announced today that it plans to form a new company, Bakkt, which intends to leverage Microsoft cloud solutions to create an open and regulated, global ecosystem for digital assets. The new company is working with a marquee group of organizations […]