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Square stock gains after Instinet pens bullish note on Square Cash app growth

“He wrote that Square Cash app downloads began accelerating prior to the launch of bitcoin BTCUSD, -2.88% trading on the app” writes Emily Bary for marketwatch.com. SQ, +1.83% shares are up 1.8% in Wednesday morning trading after Instinet analyst Dan Dolev wrote a note to clients highlighting the growth of the Squash Cash app.Square monetizes the Cash app in a number of ways, including through bitcoin trading, charging for instant access to deposits, and an associated debit card.PYPL, +0.10% Dolev estimates that Squash Cash is approaching Vemmo in terms of cumulative app downloads, citing Sensor Tower data and his own research.
 
Source: marketwatch.com



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