The payment application ‚Cash App‘, mostly used in the US and UK, has added the Lightning Network as a payment method. This is good news for the future of bitcoin!
With this addition to the app, paying with bitcoin has become much easier. Cash App is currently not available in many countries, but hopefully it won’t be long until others will follow!
About Cash App:
Cash App (formerly known as Square Cash) is a mobile payment service developed by Block, Inc. that allows users to transfer money to one another using a mobile phone app. The service is only available in the US and the UK. In September 2021, the service reported 70 million annual transacting users and has generated $1.8 billion in gross profit.
Cash App was launched by Square, Inc. in October 15, 2013 under the name „Square Cash“.
In March 2015, Square introduced Square Cash for businesses. This allowed individuals, organizations, and business owners to create a unique username to send and receive money, known as a $cashtag. Since then, the $cashtag has become the most popular method for users to transfer money.
In January 2018, Cash App added support for bitcoin trading.
In October 2019, Cash App added support for stock trading to users in the United States.
In November 2020, Square announced it was acquiring Credit Karma Tax, a free do-it-yourself tax-filing service, for $50 million and would make it a part of its Cash App unit.
On November 3, 2021, Square opened up Cash App to teenagers between the age of 13 and 17. The app previously required its users to be at least 18 years old. Younger teens will require a parent or guardian to authorize their account and will not have access to bitcoin or stock trading until they turn 18.