Square Buys Afterpay And Allows Bitcoin Purchases

Jack Dorsey’s company Square has announced plans to buy Australian technology company Afterpay. This was reported in a press release issued on August 1. The press release revealed that both companies had signed a so-called law on the implementation of the plan.

Square plans to buy all published shares on Afterpay. And it will be done with a proposed, court-approved arrangement. The total amount payable after payment was $ 29 billion. This was based on the closing price of Square’s shares on July 30, 2021, which had a strong closing.

Read on / ROBINHOOD IPO: this is why you should migrate your crypto from Robinhood as soon as possible!

After the acquisition, Square plans to integrate Afterpay with existing applications. The payment app will then begin offering bitcoin purchases for Afterpay users. The integration will also allow Afterpay’s co-founders and square’s co-CEO to work together to bring Afterpay’s business into the Square ecosystem.

The deal with all shares is scheduled to be completed in 2022.

Square Chief Executive Jack Dorsey said: “Square and Afterpay have a common goal. We have built our business to make the financial system fairer, more accessible and more inclusive. And Afterpay has created a trusted brand that abides by these principles.

What Is Afterpay?
Afterpay is a service that allows you to buy and pay for things over a certain period of time. All the while, they’re not offering interest on those purchases.

Users can pay for goods with four payments stretching over two months. Payments are made by users every two weeks until the price of the product is determined. And don’t worry about the percentages added to purchases, because there are none.

Read on / this new partnership will allow Litecoin users to shop at one of the largest U.S. retail stores

The only October payments that the payment service charges are late payments. Applies only if customers do not pay the specified amo

Join the Discussion

  • BrokerEUR/USD
    FX Pro 0.91pips. (variable) margin: 3.33%
    Core Spreads 0.6pips (variable) margin: 3.33%
  • Back to top