January 22, 2020 Square Crypto awarded a U.S. patent for a fiat-to-crypto payment system.

Square Crypto, a mobile payments company founded by Twitter CEO Jack Dorsey, was awarded a patent for a fiat-to-crypto payments network by the U.S. Patent and Trademark Office (USPTO). The technology, described as capable of ‘automatically exchange[ing] the sender’s payment into the asset specified by the receiver’ is presented as advantageous to the retail sector, according to the application.