BTCPay Raises Funding from Square Crypto Cryptocurrency payment processing service BTCPay Server received a $ 100,000 grant through its new BTCPay Foundation division from Square Crypto, founded by Twitter creator and bitcoin bigot Jack Dorsey.

BTCPay Crypto Processing Service Raises Funding From Square Crypto

Cryptocurrency payment processing service BTCPay Server received a $ 100,000 grant through its new BTCPay Foundation division from Square Crypto, founded by Twitter creator and bitcoin bigot Jack Dorsey..

Under the terms of the grant, the funding received by BTCPay developers can be used to implement any initiatives as long as their software remains free, uses open source and focuses on improving the "security, scalability, privacy, interaction experience or interchangeability of bitcoin.".

BTCPay developers, in turn, have pledged to use the funding provided to them through the BTCPay Foundation to develop new features and expand the reach of their product. They also pledged not to use the funds received for development related to altcoins, since this does not contribute to increasing the self-sufficiency of bitcoin, and the integration of third-party services..

BTCPay Server is licensed by MIT and allows anyone to modify their software code for personal and commercial purposes. The service is often touted as an alternative to the BitPay solution, which has recently received a flurry of criticism, for example, forcing user identification for a number of payments and blocking charitable transfers sent to save the wildfire forests of the Amazon..

Square Crypto was founded as the crypto-focused arm of payments company Square earlier this year. The firm recently recruited renowned developer Matt Corallo to create open source solutions to improve Bitcoin..

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