Square seems to be growing so fast thanks to the network effects that they are creating with their marketing ($cashtags, social etc) (it’s not a fact though).
And if they are keen to continue burning cash to grow their Cash App overseas, such as in the UK, they could effectively fund the exansion with only their bitcoin business.
Cash App’s $cashtags allow you to send money to Cash App users easily.
It’s your unique ID and you get a URL too: https://cash.app/$yourcashtag
As Cash App spends its money on marketing and virality, they can grow people’s networks. The law of networks of networks or the network effect can make people sign up to a service because their friends and relatives are on the same service. This is like the early days of college Facebook.
$cashtags were introduced in 2015:
Twitter’s stock ticker symbol tracking with $ - thanks, Stocktwits (the maker of TradeApp) - were introduced in 2012:
https://twitter.com/twitter/status/230098997010911233?lang=en
If people use their cashtags online, they can be used for data science and all kinds of analytics, just like the stock ticker usage:
https://firstmonday.org/ojs/index.php/fm/article/view/5385/4109
UK £ cashtags are coming:
Noticed they use the £ symbol for its UK page:
Growth over 6-7 years:
Square’s Cash App, which was initially launched in 2013, was the fastest-growing payments app in the U.S. last year, according to App Annie’s “State of Mobile 2020” report. The firm also named Cash the top “breakout” finance app in the U.S., beating the bank-backed Zelle and PayPal’s Venmo – which ranked second and third, respectively.
…
Square has gradually expanded Cash from a peer-to-peer payments app into a full-blown fintech ecosystem with bitcoin and commission-free stock trades. It’s also linked to a physical Cash Card, which can be used as a regular debit card.Over the next five years, the expansion of Cash – along with Square’s other fintech services like Instant Deposit and its financing arm Square Capital – should lock in more consumers and merchants.
There are no Cash App jobs advertised in the UK.
Even Stake has one manager job on its careers page, which didn’t stop them from launching here (Robinhood should learn from the Aussies).
Square - which first started with card readers for handhelds - has this one - Hardware Product Marketing Manager: