Twitter founder’s payment platform and crypto division to change name

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The changes, according to the developers, will be consistent with the goals of the project.

Twitter founder Jack Dorsey’s Square payment platform changes its name to Block. Information about the changes appeared in a press release from the company.

• Square will officially be renamed Block on December 10, 2021. According to the developers, the changes reflect the company’s desire to use more opportunities of blockchain technologies and to focus on decentralization. The company’s ticker on the stock exchange will remain the same – SQ.
• The Block brand will include the Cash App, music streaming service TIDAL and the decentralized bitcoin exchange TBD.
• Square representatives drew attention to the fact that they have been working on finding a new name that will match the project’s development plans throughout the year.

“Block is nothing more than a new name. We have not abandoned the goal of expanding economic opportunities [пользователей]… Regardless of how we grow or change, we will continue to create tools that will help expand access to the economy, ”commented Jack Dorsey on the changes.

• As a reminder, Square has a crypto division called Square Crypto. Its developers are also planning to rename it. The crypto division of the payment platform will continue to operate under the Spiral name.

Representatives of the company announced a rebranding amid Jack Dorsey’s departure from the post of CEO of Twitter. The position was taken by the “first outstanding engineer” of the company – Parag Agrawal.

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