The renowned cryptocurrency arm of the payments firm, Square Crypto, within a recent official announcement revealed that it’s awarded a grant to a designer who’s trying to form bitcoin wallets usable by anyone, no matter technical proficiency.
The work Square Crypto will be funding will seek to answer an issue the grant recipient, Maggie Valentine, suggests during a proposal, namely: “How can we offer an intuitive experience for non-crypto users while preserving the safety of a user’s funds?”
The award comes within a month after Square, which is helmed by Twitter CEO Jack Dorsey, added that it already had purchased 4,709 bitcoins for $50 Mln, 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 within the future,” Ahuja added. “For a firm that’s building products supported a more inclusive future, this investment may be a tread on that journey.”
A more inclusive future that has bitcoin would also seem to be a profitable one for Square. The company’s Cash App has been a serious revenue driver for the publicly traded fintech.