Cash App adds auto-investing features for Bitcoin

Users of the Cash App from Block (formerly Square) gained the ability to automatically convert part of direct deposits into Bitcoin. The company announced this at Bitcoin 2022, The Block reports.

Three new features were unveiled at the event:

• Get Paid in Bitcoin — a configurable percentage of fiat currency received via the ACH network is automatically converted into Bitcoin;
• Bitcoin Roundups — the spare change from transactions is converted into BTC in fixed increments;
• Lightning Network Receives — enables receiving transfers via the Bitcoin Lightning Network.

The latter feature is available only to US customers, with the exception of New York residents. Block integrated the ability to send payments via LN in February 2022.

Lightning Network is now available on Cash App. It\’s the fastest, free way to pay anyone in bitcoin.

Buy tacos, tip your favorite Twitter comedian, or send a friend money abroad—anywhere that accepts lightning. pic.twitter.com/65TXSJ6yL6

— Cash App (@CashApp) February 7, 2022

In December 2021, Square changed its name to Block. The move was tied to a desire to reflect the growth of the group and its commitment to blockchain projects.

The head of the company, Jack Dorsey, has repeatedly stated his aim to make digital gold the native currency of the Internet. In January 2022 he launched the Bitcoin developers’ legal defense fund.

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