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August 29, 2018Blog Posts

Square wins patent for network that processes cryptocurrency payments

BCFocus

With each passing day, cryptocurrency adoption has risen and will likely continue to spread owing to recent progress in the space. Payments processor Square Inc recently won a patent for a payment network which will allow merchants to accept payments in any currency – including digital coins.

According to public documents dated August 21, the U.S. Patent & Trademark Office (USPTO) has approved the application filed by the company in September last year.

“The disclosed technology addresses the need in the art for a payment service capable of accepting a greater diversity of currencies…including virtual currencies including cryptocurrencies (Bitcoin, Ether, etc.),” the company stated in the patent application obtained by CCN.

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