According to foreign media reports, the United States mobile payment company Square CEO Jack Dorsey said today that Square will not only continue to support bitcoin transactions, but also continue to cultivate the related technologies.
Square started to support bitcoin trading in November last year, but it was limited to specific test groups, and Square opened it completely earlier this month, allowing all users to buy and sell bitcoins through Square.
Today, Square CEO Dorsey (also serves as Twitter CEO) in the company's fourth quarter earnings conference call, said: 'For us, bitcoin is not limited to buying and selling.We are convinced that, for our industry, it It is a revolutionary technology and we want to know it as fast as we can
Dorsey also said: 'At the moment, bitcoin has little effect on our profits, but we believe that bitcoin will provide an opportunity for more people to reach out to the financial system.'
According to data released by the World Bank last year, there are still about 2 billion people in the world without bank accounts, and many analysts believe digital cryptocurrencies are expected to help reduce this figure.
With the 7 major banks sing anti-tune
As of last week, at least seven global banks banned the use of credit cards to buy digital cryptocurrencies, including Bank of America, JPMorgan Chase, Citigroup, Discover Financial Services, Capital One Financial, Lloyds Banking Group, And Toronto-Dominion Bank.
Analysts say the main reason these banks are forbidding users to buy digital cryptocurrencies using credit cards is to protect their own interests, and the banks are concerned that users have purchased too much digitally-encrypted currency using credit cards, resulting in an inability to repay bank arrears, especially It is when the current digital crypto-currency can fluctuate easily. In addition, some banks are also concerned that hackers may steal their users' credit cards and buy digital cryptocurrencies without the user's knowledge.
Fourth quarter earnings
Yesterday, Square just released its fourth quarter results for fiscal 2017. Driven by steady growth in merchant customers, its revenue exceeded analysts' expectations for the ninth consecutive quarter.
In the fourth quarter, Square net income of 616 million US dollars, a net loss of 16 million US dollars, diluted loss of 4 cents per share.Adjustment of revenue was 282.7 million US dollars, an increase of 47%, higher than analysts expected 2.666 billion US dollars , Earnings per share of 8 cents.