San Francisco: Jack Dorsey’s financial services company Square has announced that it will change its name to Blockchain from December 10, as the former Twitter CEO turns his attention to blockchain and cryptocurrencies.
The announcement comes after Square founder Dorsey, a staunch supporter of bitcoin, stepped down as CEO of Twitter.
“Block is a new name, but our objective of economic empowerment remains the same,” he said in a statement late on Wednesday. As we grow or change, we will continue to build tools to help increase access to the economy.
Since its launch in 2009, the company has added Cash App, TIDAL and TBD54566975 as businesses and the name change creates room for further growth.
Square helps sellers run and grow their businesses with its integrated ecosystem of commerce solutions, business software and banking services.
With Cash App, anyone can easily send, spend or invest their money in stocks or bitcoins.
Square isn’t the first big tech company to rebrand this year.
Facebook changed its corporate branding to meta just a month ago.
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