Square Crypto, the division of the publicly traded mobile payment company that focuses solely on Bitcoin, has just announced its first grant to help promote Bitcoin as an everyday currency. The company is giving $100,000 to the BTCPay Foundation to boost the foundation’s development of open-source software improving the security, scalability and fungibility of Bitcoin.
Twitter and Square CEO Jack Dorsey unveiled Square Crypto earlier this year as a Bitcoin-focused initiative. The first grant for the foundation’s product BTCPay Server is expected to be one of many for Bitcoin developers. According to the announcement,
“BTCPay represents everything we love about open-source bitcoin projects. It exemplifies the ideals of our community and promotes adoption by letting merchants accept bitcoin, control their private keys, and self-validate their coins. It also creates powerful real world applications for bitcoin without sacrificing user experience or requiring trusted third parties.”