The Jack Dorsey's Square payment company will change its name to Block
The renaming in fintech was explained by the desire to reflect its growth and commitment to the blockchain projects in the name
02.12.2021 - 13:15
297
1 min
0
What’s new? The Jack Dorsey's fintech company Square has announced a rebranding, it will now be called Block. Officially, this decision will come into force after December 10.
Why was it decided to change the name? The company explained that the name Square is associated with its business for sellers. The company has been in the business of accepting and processing payments for small and medium-sized businesses since 2009.
The new name, Block, demonstrates the company's growth and transformation into an ecosystem. It has already included the Cash App money transfer service, the music streaming service Tidal, and an open-source digital asset exchange platform project TBD5466975. The Square Crypto project, whose activities are related to the development of BTC, will change its name to Spiral and will also become a part of Block.
What had happened before? Jack Dorsey announced this week that he leaves his post as Twitter’s CEO. He noted that he is going to focus his attention on running Square. Many analysts felt that by doing so, the businessman is going to pay more attention to the development of the blockchain technologies in the company.
Useful material?
Market
Tether Finance division will be responsible for the issuance and redemption of USDT stablecoins
Apr 18, 2024
Trends
The first project introduced on the platform will be BounceBit (BB)
Apr 18, 2024
Business
The rate exchange of the native ACH token reacted with a 10% increase
Apr 18, 2024
Market
Miners are hunting for the first block after halving as the value of the first satoshi could exceed $1 million
Apr 18, 2024
Market
The platform will be non-custodial and accessible to everyone
Apr 15, 2024
Market
China Asset Management, Harvest Global Investments, and Bosera Asset Management have received permits
Apr 15, 2024