CryptoNewsBreaks – Square Inc. (NYSE: SQ) Granted New York Virtual Currency License, Bitcoin Price Surges

June 19, 2018 13:53:03

The price of bitcoin recorded a significant spike on Monday following news that the New York State Department of Financial Services had granted Square Inc. (NYSE: SQ) a virtual currency license. Per Coindesk, the cryptocurrency’s price climbed from a Monday low of $6,404 to a high of $6,729 over the course of about seven hours. Award of this license marks a major milestone for Square, as New York-based users of the company’s Cash App can now buy and sell bitcoin in real-time. This certification further solidifies Square’s position as one of the most high-profile firms currently operating in the cryptocurrency space. “We are thrilled to now provide New Yorkers with Cash App’s quick and simple way to buy and sell bitcoin,” Brian Grassadonia, head of Cash App, noted in a statement issued on Monday. “Square and the New York State DFS share a vision of empowering people with greater access to the financial system and today’s news is an important step in realizing that goal.”

To view the full press release, visit http://ccw.fm/8XwyH

About Bitcoin

Bitcoin is an innovative payment network and a new kind of money. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls bitcoin and everyone can take part. Through many of its unique properties, bitcoin allows exciting uses that could not be covered by any previous payment system. For more information, visit www.Bitcoin.org

More from CryptoNewsBreaks

About CryptoCurrencyWire (“CCW”)

CryptoCurrencyWire (CCW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with CCW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, CCW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CCW brings its clients unparalleled visibility, recognition and brand awareness.

CryptoCurrencyNewsWire is where News, content and information converge via Crypto.

For more information, please visit https://www.CryptoCurrencyWire.com

Please see full terms of use and disclaimers on the CryptoCurrencyWire (CCW) website applicable to all content provided by CCW, wherever published or re-published: http://CCW.fm/Disclaimer

CryptoCurrencyWire (CCW)
New York, New York
www.CryptoCurrencyWire.com
212.418.1217 Office
Editor@CryptoCurrencyWire.com