Categories Square

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Square’s bank arm launches as fintech aims ‘to operate more nimbly’

Known for its innovations in the payments sector, Square is now officially a bank. Nearly one year after receiving conditional approval, Square said Monday afternoon that its industrial bank, Square Financial Services, has begun operations. Square Financial Services completed the charter approval process with the FDIC and Utah Department of Financial […]

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Jack Dorsey and Jay Z invest 500 BTC to make Bitcoin ‘internet’s currency’

Twitter and Square CEO Jack Dorsey and rapper Jay Z have created an endowment to fund bitcoin development initially in Africa and India, Dorsey said on Friday. The duo is putting 500 bitcoin, which is currently worth $23.6 million, in the endowment called ₿trust. The fund will be set up […]

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What to make of Stripe’s possible $100B valuation

This is The TechCrunch Exchange, a newsletter that goes out on Saturdays, based on the column of the same name. You can sign up for the email here. Welcome to a special Thanksgiving edition of The Exchange. Today we will be brief. But not silent, as there is much to talk about. […]

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PayPal’s earnings don’t excite Wall Street, but bring good news for consumer fintech

PayPal’s stock is down in after-hours trading after reporting third-quarter earnings that beat expectations. It’s not immediately clear why PayPal is losing ground, although it could stem from retail investor having higher expectations than what analysts estimated for the high-flying company. Despite failing to delight the investing public, it’s possible […]

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Square’s Cash App tests new feature allowing users to borrow up to $200

Cash App, the peer-to-peer payments service from Square, is giving select users a way to get short-term loans. The company said it’s only testing the feature with around 1,000 users for now. But it could become more broadly available — and there are probably plenty of people who could use […]

PayPal, Intuit & Square approved to offer loans to small businesses through coronavirus relief program

Fintech companies have been lobbying for weeks to be able to participate in the U.S. government’s emergency lending program for small businesses. Now those efforts have paid off, as PayPal, Intuit and Square have all been approved to participate in the U.S. Small Business Administration’s (SBA) Paycheck Protection Program, which […]

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Let’s give tech philanthropists the benefit of the doubt on COVID-19

Scott Bade Contributor Share on Twitter Scott Bade is a former speechwriter for Mike Bloomberg and co-author of “More Human: Designing a World Where People Come First.” More posts by this contributor How Huawei is dividing Western nations Silicon Valley Community Foundation challenges donors to address local problems Tuesday afternoon […]