Home Bitcoin News Square to Acquire Buy Now Pay Later Platform in Australia to Allow Bitcoin (BTC) Purchases

Square to Acquire Buy Now Pay Later Platform in Australia to Allow Bitcoin (BTC) Purchases

Bitcoin
  • Square to acquire After Pay Australia
  • After Pay is a Buy Now Pay Later Platform
  • Post-Acquisition Square will permit BTC purchases

Square expressed:  “Today, we announced our plans to acquire afterpay_au to advance our shared mission of economic Empowerment. Together, we’re aiming to build financial products that are inclusive for all.

What is the Financial Product inclusive of all? Square + DeFi + After Pay = Permitting Bitcoin Purchases in AfterPay outlets.  Square helps millions of sellers run their business from secure credit card processing to point of sale solutions.

 

Square is working on a new business, which is dedicated to “decentralized finance.”  The Defi unit will include the Seller, Cash App, and the recently acquired Tidal businesses.  DeFi applications permit financial transactions, which are easily accessible.  It is efficient, and it is available at a relatively low cost.

 

For liquidity sellers, DeFi has been attractive.  The point is to generate returns ranging from 15% through 30% by participating in the liquidity pools in the DeFi ecosystem.  Liquidity sellers lock their capital in smart contracts.  DeFi has different kinds of risks like asset volatility, regulation, and the technology itself.

 

Afterpay Limited is an Australian financial technology company operating in Australia, the United Kingdom, Canada, the United States, and New Zealand. Afterpay was founded in 2014 by Nick Molnar and Anthony Eisen.  Afterpay is fully integrated with several stores. Users shop as usual, then choose Afterpay as the payment method at checkout.

 

Jack Dorsey is set to acquire “After Pay Australia” for $29 billion and further permitting Bitcoin purchases.

 

This means the capabilities of Square, After Pay, and Defi will be combined to provide financial inclusion for all.

 

What is economic Empowerment? Decentralized is all about distributing power to the masses and unleashing human potential for good. DeFi applications depend upon smart contracts and not on banks or third parties to execute their transactions.

 

After the completion of the acquisition of After Pay, users will be able to access Bitcoin using Cash App. After the acquisition formalities are completed, the Co-founders and CEOs at After Pay will be joining Square to help lead the AfterPay business.

 

DeFi comes with its own challenges.  The volatility is challenging because the assets that have a high value when put up as collateral can decline in value when there is a downturn in the market. When the price of the collateral is going down, liquidity sellers might want to withdraw their collateral, which is the value locked in DeFi.

 

In conclusion, Square empowered by the partnerships with Seller, CashApp, acquisitions of Tidal Businesses, and After Pay will empower Bitcoin Purchases.

 

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dan saada

Dan hold a master of finance from the ISEG (France) , Dan is also a Fan of cryptocurrencies and mining. Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9

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