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Square Funds Designer to Make Crypto Wallets Usable by Anyone
Maggie Valentine was awarded a grant to help make bitcoin wallets less complicated for non-crypto users.
Square Crypto, the cryptocurrency arm of the payments company, said in a tweet Friday it has awarded a grant to a designer who's trying to make bitcoin wallets usable by anyone, regardless of technical proficiency.
STORY CONTINUES BELOW
- The work Square Crypto will be funding will seek to answer a question the grant recipient, Maggie Valentine, put forward in a proposal, namely: "How can we provide an intuitive experience for non-crypto users while preserving the security of a user’s funds?"
- The award comes less than a month after Square, which is helmed by Twitter CEO Jack Dorsey, said it had purchased 4,709 bitcoins for $50 million, representing 1% of the firm's assets.
- The grant seems to be in line with statements made by company CFO Amrita Ahuja at the time Square's investment was announced: "We believe that bitcoin has the potential to be a more ubiquitous currency in the future," Ahuja said. "For a company that is building products based on a more inclusive future, this investment is a step on that journey."
- A more inclusive future that includes bitcoin would also seem to be a profitable one for Square. The company's Cash App has been a major revenue driver for the publicly traded fintech.
Read more: Bitcoin Drove Half of Square’s Cash App Revenue in the 4th Quarter
Kevin Reynolds
Kevin Reynolds is editor-in-chief at CoinDesk. Prior to joining the company in mid-2020, Reynolds spent 23 years at Bloomberg, where he won two CEO awards for moving the needle for the entire company and established himself as one of the world's leading experts in real-time financial news. In addition to having done almost every job in the newsroom, Reynolds built, scaled and ran products for every asset class, including First Word, a 250-person global news/analysis service for professional clients, as well as Bloomberg's Speed Desk and the training program that all Bloomberg News hires worldwide are required to take. He also turned around several other operations, including the company's flash headlines desk and was instrumental in the turnaround of Bloomberg's BGOV unit. He shares a patent for a content management system he helped design, is a Certified Scrum Master, and a veteran of the U.S. Marine Corps. He owns bitcoin, ether, polygon and solana.
