Square Crypto provides $100k grant to BTCPay Server

Square Crypto, the crypto initiative of payments company Square, has announced that it is giving a $100k grant to the BTCPay Foundation, the non-profit organization behind BTCPayer Server. BTCPayer Server was founded in 2017 by Nicolas Dorier, a bitcoin developer. The project is a self-hosted, open-sourced bitcoin payments processor.


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According to Square Crypto, while BTCPay Server may appear to be a direct competitor to Square, the firm believes everyone will benefit from open-sourced products. "This isn’t an investment in a competitor, it’s an investment in the future of money—something that Square obviously has a stake in," Square Crypto's official Twitter account states.

Square Crypto recently announced it had hired Matt Corallo, a Bitcoin Core contributor and Blockstream co-founder. Corallo will work on open-source Bitcoin projects for Square Crypto. 

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Steven Zheng is a researcher for The Block. He joined The Block in August 2018. Steven graduated from St. John’s University with a degree in economics. Previously, he covered blockchain and crypto at Radicle, a startup analytics firm. He also had brief stints at Cheddar, a media startup, and Bowery Capital, a venture capital firm. He owns bitcoin. Follow Steven on Twitter at: @Dogetoshi

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