- Cash App announced the implementation of a new feature that will allow U.S. customers to automatically invest a portion of their direct deposit paychecks in Bitcoin (BTC).
- Cash App Visa Cash Card users will be able to opt for the option to get paid in Bitcoin at no extra costs.
- The announcement was made on Thursday at the Bitcoin 2022 Conference in Miami.
Cash App announced that they are implementing a new feature that will allow U.S. customers to automatically invest a portion of their direct deposit paychecks in Bitcoin (BTC). This news was unveiled on Thursday at the Bitcoin 2022 conference in Miami.
Cash App Visa Cash Card users will be able to opt for the option to get paid in Bitcoin at no extra costs, thanks to the mobile payment service run by Block, a company owned by Jack Dorsey.
When making the announcement on Thursday, Cash App’s Bitcoin product lead, Miles Suter, explained that users can automatically convert from 1% up to 100% of their deposits into Bitcoin. Users can also adjust the percentage that is converted at any time if they need to.
Suter added that users will also be able to round up to the nearest dollar any Cash Card transaction that is performed on a Visa debit card connected to a Cash App balance, and transfer any spare change to Bitcoin.
After speaking on the main stage at the conference, Suter sat down with the female tennis champion Serena Williams, Odell Beckham Jr. from NFL, and Aaron Roders to discuss Bitcoin. Both Rodgers and Beckham Jr. were among the growing list of athletes that have partnered with Cash App to receive a portion of their salaries in BTC.
Prior to this announcement, Cash App had recently announced its compatibility with the Bitcoin Lightning Network for Bitcoin transfers. As a result of this compatibility, U.S. Cash App users can make faster BTC transactions across mainstream businesses.