The payment service provider Square has posted the official results for the first quarter of this year to 2018. However, the figures related to the launch of the application Cash are vastly superior to what the young entrepreneurs hoping to launch this interface to purchase and sale of Bitcoins.
The trading of Bitcoins
A few months ago, in November last, the start-up Square has launched in the adventure of the crypto-currency by offering its customers the trading of Bitcoins. An application is extremely limited in its called Cash, which was then only a few users in its early days. Finally, the functionality was extended to all of the customers from the month of January 2018.
Logo Square / The application allows users to trade Bitcoins.
The application Cash is a broker, and plays the intermediary between the user and the exchange platforms. But she takes no commission, simply enjoying the difference between the purchase price and the sale price. This is clever… and paying ! Because the numbers speak for themselves.
Very good results
Through the application Cash, Square has generated nearly $ 35 million since the month of January. We obviously talk about sales. The trading of Bitcoins has therefore reported 5 % of the $ 669 million of revenue from Square on this first quarter of the year. A very positive result, even if the benefit seems quite low since it would be close to 200 000 dollars.
Pixabay – The Digital Artist / CEO of Square, is confident of the future of Bitcoin.
The company Square is doing well, and the shares of the company continue to escalate. Jack Dorsey, the CEO of the company, is very optimistic about the future of his company, stating that the crypto-currency could one day become the main currency in the world : “In the future, the world will have a single currency. The Internet will have a single currency. And I think it should be the Bitcoin. “
Some argue, however, that the listing of the company’s Square is far too large. For the moment, the numbers are good. To follow.
Source : NCC