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-Square Inc, the payments company led by Twitter Inc co-founder Jack Dorsey, said on Wednesday it was changing its name to Block Inc, as it looks to expand beyond its payment business and into new...
The company, which will keep the Square brand for its card readers, also supports music, cash transfers, Bitcoin trading and other financial services.
Square said the rebrand to Block will bring the payments firm together with Cash App, the decentralized Bitcoin exchange project tbDEX, music and video streaming platform Tidal, and its crypto-focused branch, now Spiral.
The billionaire’s bitcoin funding initiative Square Crypto has rebranded to Spiral and is aimed at “making bitcoin the planet’s preferred currency.”
Like Facebook, Square has outgrown its original focus, dealing with payment-processing systems for sellers, and now the company is rebranding as Block, in a nod to its ambitions in the world of blockchain.