American company Square, which develops solutions for the receiving and processing of electronic payments, has received a patent for a new payment system, in which the parties can use any currency, including cryptocurrencies.
Published on the website of the Bureau of patents and trademarks United States the document, filed last fall, said that the company’s decision is a response to the needs of users to such payment service. And its feature is that by means of a private blockchain cryptocurrency and traditional payments in the system can be carried out with the same speed.
Recall that in the second quarter Square has held trade bitcoins with $37 million taking into account costs, which reached $36.5 million, the company has in this area approximately $420 thousand. Thus in the financial report of the company says that of the $814 million net income on cryptocurrency service Square Cash account for 6%. Two weeks ago, the service trade bitcoins in this application became available in all 50 States of the USA.