Square is Rebranding in Favour of Blockchain Projects

Payments company Square has announced that it will change its company name to Block, as well as a structural change to promote various blockchain projects.

According to the head of the company Jack Dorsey, the Square brand was created for a business focused on merchants, and Block has the goal of expanding economic opportunities.

Square is officially due to change its legal name on December 10. Its shares will continue to be listed on the NYSE under the ticker SQ.

The structural divisions of the company – Square, Cash App, TIDAL and TBD – will retain their names and continue to develop their own areas. The Square Crypto project focused on the promotion of bitcoin will now be called Spiral.

The project team noted that the rebranding will highlight its independence from the corporate benefactor and commitment to developing Bitcoin-focused products.

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