Bitcoin Revenue in Square’s Cash App Tops Fiat Revenue for First Time in Q1

For example, by making it easy to do direct deposits into Cash App, the firm saw enormous growth, Dorsey said in Wednesday’s earnings call. Direct deposit users were more likely to use more of Cash’s other services, such as peer-to-peer payments and bitcoin purchsaes. Further, Square collaborated with companies like Twitch and Spotify so fans could directly support their favorite creatives.