Jack Dorsey’s Square Obtains Ninth BitLicense Ever

in #bitcoin6 years ago

From NewsBTC


Payments company Square, a side venture of Twitter CEO Jack Dorsey, is the ninth firm to have obtained a BitLicense by the New York State Department of Financial Services. Bitcoin purchases first became available on its app in other states in January, but revenue has barely covered the costs in Q1 2018.

Square Becomes Ninth Firm to Obtain BitLicense from New York State
Jack Dorsey, co-founder and CEO of Twitter and avid cryptocurrency enthusiast, was able to obtain a license to operate virtual currency activities in the New York State for its other venture, mobile payments firm Square. Not many companies hold a BitLicense. Square became the ninth firm after the first being issued in September 2015 for Boston-based Circle, according to a report from Business Insider.

Blockchain remittance network Ripple was the runner-up, being granted a license in July 2016, followed by cryptocurrency exchange Coinbase in January 2017. Later that year, Tokyo-based bitFlyer obtained the fourth BitLicense and Genesis Global Trading was awarded the fifth in May 2018. Recently, the New York State seems to have become fertile ground for the issuance of charters as June 2018 saw Hong Kong-based Xapo being granted the sixth license just days before Square.

Read more:

More and more big players from the supposed mainstream silicon valley are eyeing crypto and the futures is can bring. Jack has been a major proponent of crypto as of late and has been a huge advocate for sky high prices in the near future. Let's hope he's right.

Leave your thoughts in the comments below.


Follow @contentjunkie to stay up to date on more great posts like this one.


Click one of the links below to signup for a free crypto trading account



Sort:  

This post has received a 16.07 % upvote from @boomerang.

This post has received a 24.69 % upvote from @booster thanks to: @contentjunkie.

You got a 10.11% upvote from @upme thanks to @contentjunkie! Send at least 3 SBD or 3 STEEM to get upvote for next round. Delegate STEEM POWER and start earning 100% daily payouts ( no commission ).

You got a 5.34% upvote from @postpromoter courtesy of @contentjunkie!

Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!