Square Inc., the digital payments platform led by CEO Jack Dorsey, is testing a new feature within its Cash App that would allow users to trade stocks for free, according to a new report by Bloomberg.
The news service reports that it has seen a video outlining the new stock trading service, which would put Square in direct competition with rival apps from Robinhood Markets Inc. The report says Square employees have begun testing the app in recent weeks, however a specific launch date has not been set.
Square previously launched a service that allows customers to trade bitcoin. A spokesman for Square declined to comment.
Cover image: Courtesy of Square