Payments Giant Cash App Revealed New Features That Supports Crypto Adoption | CryptoGazette
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The mass adoption of digital assets has been one of the most important goals that the crypto industry has. There have been a lot of moves made in this direction and the latest one is made by payments giant Cash App.
It’s been revealed that the app is launching a new feature that will allow users to get paid in the leading crypto asset Bitcoin (BTC).
Speaking at the Bitcoin 2022 conference in Miami, Cash App’s crypto product lead Miles Suter says that the payments app has rolled out its ‘Paid in Bitcoin’ feature.
This new feature is reportedly allowing customers to immediately convert their direct deposits into the top crypto asset by market cap for free.
“To make Bitcoin more relatable, we’re starting to roll out ‘Paid in Bitcoin,’ a simple and completely free way to auto-invest your paycheck into Bitcoin…” he said.
He continued and explained the following:
“We already have a significant number of customers receiving recurring paychecks into Cash App. With two taps, they’re now going to be able to select a percentage between one and a hundred [and] the fiat coming through the ACH rails will be converted into beautiful BTC for free.”
Suter continued and said that two other crypto-related features Cash App will deploy.
First, he talked about Bitcoin Roundups, which lets users with specific debit cards linked to the program round up payments to the nearest dollar and purchase BTC with the difference.
Then, he talked about Lightning Network, BTC’s layer-2 payments protocol.
Bitcoin is praised by Cathy Woods
It’s been just reported that the ARK Invest founder Cathie Wood said that she views Bitcoin (BTC) as a disruptive innovation in line with corporate giants such as Tesla, Apple, and Amazon.
In a new YouTube video, Wood explains how recent history shows that disruptive tech eventually explodes in market capitalization despite doubts from investors.
“I can’t tell you how many times the sell-side and the buy-side said, ‘This thing’s going bankrupt. This was a figment of Jeff Bezos’s imagination, of Wall Street’s imagination.’ Now [Amazon has] a $1.6 trillion economy.”
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