Square registers crypto payment system
Payment services provider Square has reportedly licensed new payment system that allows using cryptos among other currencies.
The company submitted a patent application to the US Patent and Trademark Office last September.
"The disclosed technology addresses the need in the art for a payment service capable of accepting a greater diversity of currencies…including virtual currencies including cryptocurrencies (bitcoin, ether, etc.)," the application reads.
According to the released document, this system will offer processing speed for crypto transactions similar to the traditional ones thanks to a private blockchain for real-time recording.
"Present technology supports payments using cryptocurrency while improving such transactions in a way that takes advantage of benefits of such transactions while overcoming drawbacks such as delays in processing," the company stated in the patent.
In June, Square got crypto license BitLicense in New York. The company posted a quite low profit in the cryptocurrency market, but the number of users is rising further. It is worth mentioning the company CEO said at the Consensus conference that internet might have its own currency betting on bitcoin.
30 August, 2018 16:00
← Ticket Monster gets $32 million funding for Terra stablecoin
One of the major e-commerce player in South Korea – Ticket Monster – finished the funding round with $32 million, which is said to be spent for the project of new stablecoin. The new coin will be called Terra and may be launched as an internal cryptocurrency along with the existing token Luna. Notably, some world's leading crypto trading platforms (OKEx, Binance Labs, Huobi Capital) took part in this round to back the project.
30 August, 2018 12:49
Origin Protocol announces Ethereum-based messaging service →
Origin Protocol that focuses on the development of a decentralized marketplace, has launched an Ethereum-based P2P message application. The company stated in its blog that their marketplace project is now in demo-version and powered by a messaging solution that encrypts communication between a buyer and seller.
Write a comment