Square Launches Share Investments on its Cash App (Even as little as $1)

October 25, 2019 | FinTech, News

Square’s Cash App, aimed at the young and the hip, will allow investing in share fractions.

The Square Cash App is a mobile payments app that allows people to transfer money between cellphones, pay for retail purchases, and draw cash via credit card, or an ATM.

The Cash App also allows trading in Bitcoin since January 2018.

Twitter announcement

“Introducing #CashAppInvesting. Now you can instantly buy stock in your favorite companies with as little as $1 with Cash App,” said Cash App’s tweet of October 24.

“You don’t need to buy an entire share to make your first investment. With Cash App, you can own a piece of hundreds of different stocks, including the most expensive stock on the market, Berkshire Hathaway Class A, which regularly trades above $300,000 per share.”

Square Cash App: Stock Investing 101

The App also features fun and light-hearted tips on stock investing via “My First Stock.”

Here’s a sample:

Commission-free fun

According to The Verge, buying stocks on the Cash App will be commission-free. This feature, along with share fractions, should make it immensely popular for all kinds of customers. These could be young and starting in life.

Last year, CEO Jack Dorsey said, “We are reaching an audience that is under-served and even to the point of unbanked, which wasn’t a stated goal, but it’s something we love and want to lean into more.” The company found its customers were treating its Cash app more like a bank account than the company intended.

[Related Story: Broker Charles Schwab to Launch “Fractional Stock” Ownership  ]

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.

Alt Insights

January 16, 2020

ESG: Lately-turned Tesla Bull Jim Cramer Adds Fink To The Mix

ESG: Lately-turned Tesla Bull Jim Cramer Adds Fink To The Mix

Latest Alternative Investment News

Act Analytics Launches New ESG Portfolio Analytics Platform
January 27, 2020     ESG and Sustainability, News

Act Analytics announced the launch of a new Environmental, Social and Governance (ESG) portfolio analytics platform. The new platform allows RIAs to compare, contrast, and construct customized ESG portfolios. The…

Digital Assets: Covantis, a Blockchain-based Agri-business Platform, Ties With ConsenSys
January 27, 2020     Digital Assets, News

Covantis is a blockchain-focused project backed by multinational agri-business companies Cargill, Archer Daniels Midland Company, Bunge and Louis Dreyfus Company. Launched in 2018, the project aims to digitize the firms’…

Bank Technology: The Driver of M&A Over the Next 10 Years?

Will 2020 be the year that we see the tipping point in bank technology? Attendees at the Bank Director Magazine Conference in Phoenix think so. The sentiment is that banks in 2030…

Bank Director Magazine Conference: Fintech, Cybersecurity and Other Worries for 2020

Tim Melvin is attending the conference in Phoenix this week. At the top of the list is competition form fintech firms and big tech companies. Millennials are more focused on…