Square (NYSE:SQ) is now Block.
The name change and rebranding were announced yesterday in a statement that highlighted Square’s ongoing transition from payments to multi-faceted Fintech. Square/Block was founded by Jack Dorsey, the founder of Twitter who just recently exited his CEO role at the global social media platform. Dorsey has long expressed his interest in digital assets and Bitcoin stating he was interested in dedicating his life to crypto.
In a release, the company explained that Block is an “overarching ecosystem of many businesses united by their purpose of economic empowerment, and serves many people—individuals, artists, fans, developers, and sellers.”
Dorsey, CEO of Block, added:
“We built the Square brand for our Seller business, which is where it belongs. Block is a new name, but our purpose of economic empowerment remains the same. No matter how we grow or change, we will continue to build tools to help increase access to the economy.”
Block operates a portfolio of services including Square, Cash App, Spiral, TIDAL, and TBD54566975.
Square’s Cash app – now supports Bitcoin
Spiral (formerly Square Crypto) builds and funds free, open-source Bitcoin projects.
Artists may use TIDAL to help them succeed and connect more deeply with fans.
TBD54566975 is building an open developer platform to make it easier to access Bitcoin and other blockchain technologies without having to go through an institution.
UpdateTip: https://t.co/KgCwKKct46
— jack⚡️ (@jack) December 1, 2021
