Square, renamed Block, would allow Cash App Users to send gifts in BTC and stock during the holiday season.
The digital payment firm says that the process would be as simple as sending cash. A user need not own bitcoin or stocks to gift and the amount to transfer is as low as a dollar.
Block is the latest entrant to integrate digital assets in payments and gifting. Other firms include Paypal and Coinbase.
A previous study by BlockFi reported that many US consumers were willing to accept crypto, including Bitcoin, ETH and DOGE, as gifts in the holiday season. The research added that the technical skills in transferring the assets were inadequate despite the interest.
The announcement by Block comes as Unbanked, a fintech firm, says that it would allow cryptocurrency donations for a program that collects and distribute toys to the less privileged children.
With Cash App, you can now send as little as $1 in stock or bitcoin. It’s as easy as sending cash, and you don't need to own stock or bitcoin to gift it. So this holiday season, forget the scented candles or novelty beach towel, and help your cousin start investing. pic.twitter.com/HS0CqusiLS— Cash App (@CashApp) December 14, 2021