Square posted a 45% increase in revenue, but lower-than-expected bitcoin revenue dampened analysts’ enthusiasm for the Q3 results.
Circle, which offers cryptocurrency-based payments for internet transactions, raised $440 million and is eyeing a potential SPAC deal.
An improving economy and a $170 million investment in Bitcoin drove payment provider Square’s revenue up 266% and profits up 79%.
PayPal reported its “strongest first-quarter results” in company history on Wednesday, posting $6.03 billion in revenue and a 46% increase in total payment volume.
Tesla is focusing on making more cars, securing battery cells and finishing gigafactories in Texas and Germany. The Semi is again in the background.
PayPal has enabled the ability for customers on Venmo to buy and sell cryptocurrencies within the app.
PayPal announced it will allow consumers to make online payments with cryptocurrencies through its Checkout with Crypto offering.
As cryptocurrencies gain in popularity, more e-commerce brands and payment platforms are incorporating the coins into their payment systems.
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Payment services provider Square posted 101% net revenue growth in 2020 over 2019 and 45% growth in net profit as it benefited from large growth in its Cash App division.
