Square obtains NY State cryptocurrency license

Technology

NEW YORK (Reuters) – Square Inc (SQ.N), the payments company founded by Twitter Inc (TWTR.N) CEO Jack Dorsey, has obtained a license to offer New York state residents the ability to buy and sell bitcoin through its Cash App, the company said on Monday.

Jack Dorsey, CEO and co-founder of Twitter and founder and CEO of Square, speaks at the Consensus 2018 blockchain technology conference in New York City, New York, U.S., May 16, 2018. REUTERS/Mike Segar

This makes Square the ninth firm to have obtained a so-called “Bitlicense” by the New York State Department of Financial Services.

Reporting by Anna Irrera; Editing by Chizu Nomiyama

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