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Square Funds Designer to Make Crypto Wallets Usable by Anyone

Square Funds Designer to Make Crypto Wallets Usable by Anyone

Square Crypto, the cryptocurrency arm of the payments company, said in a tweet Friday it has awarded a grant to a designer who’s trying to make bitcoin wallets usable by anyone, regardless of technical proficiency.

  • The work Square Crypto will be funding will seek to answer a question the grant recipient, Maggie Valentine, put forward in a proposal, namely: "How can we provide an intuitive experience for non-crypto users while preserving the security of a user’s funds?"
  • The award comes less than a month after Square, which is helmed by Twitter CEO Jack Dorsey, said it had purchased 4,709 bitcoins for $50 million, representing 1% of the firm's assets.
  • The grant seems to be in line with statements made by company CFO Amrita Ahuja at the time Square's investment was announced: "We believe that bitcoin has the potential to be a more ubiquitous currency in the future," Ahuja said. "For a company that is building products based on a more inclusive future, this investment is a step on that journey."
  • A more inclusive future that includes bitcoin would also seem to be a profitable one for Square. The company's Cash App has been a major revenue driver for the publicly traded fintech.

Read more: Bitcoin Drove Half of Square’s Cash App Revenue in the 4th Quarter

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