Analysis

Payments company Square has hired former Google director Steve Lee as the first member of its new crypto team.

A Square Twitter account teased the news Wednesday afternoon without specifying what Lee’s role at the company would be. A spokesperson for Square declined to comment.

The maker of the bitcoin-friendly Cash app led by Twitter CEO Jack Dorsey announced it was hiring a crypto team in March. At the time, Dorsey said the new roles would be focusing not on Square’s own commercial interests, but rather “on what’s best for the crypto community.”

Lee, who left Google in 2015 after eight years at the search giant, has since become a Bitcoin Optech contributor. He’s also an angel investor who lists Lyft, Pinterest and Yardbarker as key exits.

Square generated $65.5 million in bitcoin-related revenue in the first quarter of 2019, its highest quarterly volume to date.

Square Cash App image via Shutterstock

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