Square Wants in on the DeFi Boom
Square's (NYSE: SQ) interest in cryptocurrency just took a big step up. CEO Jack Dorsey recently announced plans for a new business segment focused on developing a decentralized finance platform using Bitcoin (CRYPTO: BTC).
Decentralized finance, an industry that uses blockchain technology to replace centralized institutions like banks and exchanges, has grown significantly over the last couple of years. There's over $50 billion in cryptocurrency value locked into the DeFi ecosystem. Dorsey and company think the industry is still in its early stages and that it presents a big growth opportunity for Square.
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Source Fool.com
