BITCOIN-FRIENDLY CASH APP BYPASSED PAYPAL IN THE NUMBER OF DOWNLOADS ON GOOGLE PLAY
Mobile payment service Cash App, developed by Square Inc., which allows users to purchase bitcoin, has reached a key stage of development towards the popularization of bitcoin and has become the most popular application on Google Play, beating PayPal in the number of downloads.
Earlier, in August, the Cash App overtook Venmo, taking second place in the ranking after PayPal. The rate of growth in the number of application downloads at that time was 154% per month. In the same month, the company announced the expansion of access to the possibility of buying bitcoin by using the application, opening access to the function to residents of all 50 US States.
Square CEO and co-founder of the social network Twitter, Jack Dorsey is a fan of bitcoin, he has repeatedly stated that bitcoin will become the global currency of the Internet. According to him, the purpose of Square, among other things, is to give people financial freedom and the ability to manage their own funds, whether bitcoin or Fiat. It is also said that Square, which received BitLicense, is going to add additional bitcoin functions to the Cash App by offering bitcoin processing and trading services paired with various cryptocurrencies.