Payments News

Jack Dorsey’s Square Wins Patent for Fiat-to-Crypto Payments Network

Jan 27, 2020

Granted Tuesday by the U.S. Patent and Trademark Office, the patent details a payments system allowing users holding different asset types to transact with one another in real-time.

"The present technology permits a first party to pay in any currency, while permitting the second party to be paid in any currency," reads Square's application. The network itself can automatically exchange the sender's payment into the asset specified by the receiver.

By Paddy Baker

Click to read the full article.