About Sept. 14, Square Crypto, the crypto-focused division of mobile payment firm Square, took to Twitter to declare it is supplying BTCPay Foundation with a grant of $100,000 to encourage BTCPay Server, an open cryptocurrency payment processor.
BTCPay Server may devote the funds to make whatever, "so long as it is free and open-source software which boosts the safety, scalability, privacy, user expertise, or fungibility of all Bitcoin -- or all the aforementioned" The Square Crypto group added:
"BTCPay signifies what we love about open-source bitcoin jobs. It illustrates the ideals of the community and boosts adoption by allowing retailers to accept bitcoin, control their personal keys, and self-validate their own coins. It also creates strong real-world applications for bitcoin without forfeiting user experience or necessitating trusted third parties"
Square Crypto went on to describe why they're giving a"lot of cash" into BTCPay Server, something which appears to be in direct competition with its services. Square clarified:
This is not an investment at a competitor, it is an investment in the future of cash -- something which Square clearly has a stake "