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Payments Firm Square Receives BitLicense from New York
Digital payments startup Square has received a BitLicense through the NY Department of Financial Services.
Yazan Nikhilesh De
Digital payments firm Square has received a BitLicense from regulators in the state of New York.
The company announced Mondayhttps://www.dfs.ny.gov/about/press/pr1806181.htm that the New York Department of Financial Services granted the license. Square first indicated back in March that it had submitted paperwork to receive a BitLicense, a move later confirmed by a spokesperson.
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"DFS is pleased to approve Square's application and welcomes them to New York's expanding and well-regulated virtual currency market. DFS continues to work in support of a vibrant and competitive virtual currency market that connects and empowers New Yorkers in a global marketplace while ensuring strong state-regulatory oversight is in place," Superintendent Maria Vullo said in a statement.
Square's bitcoin-buying option – through its Cash app – first debuted last fall, after which the company began steadily providing access to a greater number of users. New York had, until today, remained a major U.S. market in which Square had yet to receive permission to operate.
The company's move into the crypto space has already proven its worth, recent figures show. In May, Square reported that it had booked a small profit on $34 million in crypto-related revenue through is Cash app.
Jack Dorsey image via CoinDesk
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Bilinmesi gerekenler:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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