Sq. Inc. began out in 2009 as a payment-services supplier, enabling small companies to course of card funds with cheap white card readers and tablets. Since then, the Jack Dorsey-led firm has added extra companies for companies, a digital-payments service for shoppers referred to as Money App, a funds platform for artists and a developer platform that plans to construct a decentralized bitcoin trade.
Money App’s development exploded earlier this 12 months, partly from a flood of pandemic stimulus funds. The digital-payments app lets folks ship cash to at least one one other through smartphone, buy issues with a pay as you go debit card and put money into bitcoin and fractions of particular person shares. It competes with digital wallets from different cost corporations, comparable to PayPal Holdings Inc.
