Square Cash app is growing faster than Venmo, getting a boost from bitcoin, analyst says

Since early 2016, Square Cash app downloads have averaged 128 percent year-over-year growth each month versus Venmo's 74 percent average, according to Nomura.
Historically, Venmo saw more downloads versus Square, but the gap appears to have peaked in July 2017, analyst Dan Dolev says.

Square Cash, the mobile payment app developed by Square, is growing faster than PayPal's Venmo, according to Nomura Instinet. The app appears to be getting an added boost because it allows transactions in bitcoin, the analyst noted.
With Square Cash App now open for Bitcoin trading in most states, comparing its growth versus the popular Coinbase app is noteworthy, he added. Here, while Coinbase saw growth peak around the holiday time — as Bitcoin prices spiked — Coinbase's growth has slowed from record levels, whereas Square Cash App experienced more balanced growth.