Square Awarded Patent for Crypto-to-Fiat Transactions

United States Patent Office awarded Square a patent for a technology that the team argues cracks a present barrier in merchant transactions that most of the cryptocurrencies face the same disadvantage in that they are not widely accepted. The team provided several drawbacks to current crypto spending which the transactions take a while to process, like buying a hypothetical cup of coffee in a transaction that the blockchain could take hours to record.

 

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