Amrita Ahuja, CFO of Square, told Jim Cramer on a recent episode of "Mad Money" about the opening of its Cash App service to the 20 million teens in the U.S. Now teens can easily send money -- with parental supervision -- to friends, family and their community while earning rewards in the process, Ahuja said. This will be a major expansion of Cash App, Ahuja added, which already boasts over 40 million active users.
Square has been trading up and down over the past several months. Shares of Square are down marginally over the past month.
Ahuja also told Cramer more about Square's commitment to cryptocurrencies. She said the internet needs a currency and crypto is perfectly suited to bring the needed speed and efficiency to move money easily around the globe. Square is experimenting with Bitcoin and building systems for the future, Ahuja said, and the company sees opportunities in mining, wallets and even cryptocurrency exchanges.
Finally, when asked how the holiday shopping season is shaping up, Ahuja said they're seeing a lot of confidence in the economy, which is a very good sign.
Jack Dorsey, who had been serving as CEO of both Square and Twitter aannounced earlier this week that he is leaving Twitter effective immediately. The move could free him up to spend more time on Square and his interest in cryptocurrencies, CNBC noted.