Square is building a hardware wallet for bitcoin that allows users to store the cryptocurrency on their computers and phones.
Square CEO and bitcoin enthusiast Jack Dorsey floated the idea of a wallet last month. Now, the company's hardware lead Jesse Dorogusker has taken to Twitter to confirm that the plan is getting the go-ahead.
Dorogusker says that the decision has been made to "make bitcoin custody more mainstream". He adds that Square is looking to make hires to build the wallet.
Square launched bitcoin trading in 2018 through its Cash App. The following year it formed Square Crypto to focus on contributing to bitcoin open-source work. Recently it invested $50 million - about one per cent of its total assets - in the cryptocurrency, arguing that it is an "instrument of economic empowerment".
Dorsey, the company's founder, has long been a crypto champion, predicting in 2018 that bitcoin would one day become the world's "single currency". His Twitter bio simply says #bitcoin.