Square, a payment processing tech company owned by Jack Dorsey, just announced that it has obtained a New York BitLicense. Square App is just the seventh company to receive this approval from the New York State Department of Financial Services (NYDFS).

🚨 Our customers in New York state can now buy and sell Bitcoin (available on Coinbase) instantly with Cash App! https://t.co/4R0n5sbNpM 🚨 pic.twitter.com/1WzjiQ751I
— Cash App (@CashApp) June 18, 2018

A Twitter user replied to the post with a question about sending and receiving Bitcoin (available on Coinbase) and Cash Support responded to the question by saying:

You can currently send BTC from Cash App to an external wallet, and our team knows the feature request for receiving it to your Cash App is important one, so stay tuned for more on that front.
— Cash Support (@CashSupport) June 18, 2018

Square launched the trading of Bitcoin (available on Coinbase) (BTC) on its “Cash App” at the beginning of this year. In the first four months of 2018, the app traded $34.1 million in BTC.

BitLisence is regarded as one of the hardest state virtual currency licenses to obtain and due to this, puts Square far ahead of its rival Venmo.