Financial services company <a href="https://www.cryptoknowmics.com/news/jack-dorsey-could-set-his-sight-on-bitcoin-after-exiting-twitter">co-founded</a> by now-former Twitter CEO Jack Dorsey, Square has changed its corporate name to Block, as a nod to his passion for cryptocurrency and blockchain technology. The name change is expected to be official on Dec. 10.
<h2 class="ArticleHeader-headline">Jack Dorsey Owned Square Changes Corporate Name to Block</h2>
Block will become the name of the “corporate entity,” with Square continuing to be the segment of the company that helps people and businesses process payments, the company said in an <a href="https://squareup.com/us/en/press/square-changes-name-to-block" target="_blank" rel="nofollow noopener">official release</a>. The parent company also owns Tidal, a music streaming service, Cash App, a payment service, and a developer platform focused on Bitcoin called TBD54566975.

Square indicated there would be no organizational changes made to the company other than the name change. Everything else will be the same, with employees engaged in everything they did previously, except with new email addresses. The new corporate website will also have the address of block.xyz. However, the company’s NYSE ticker symbol SQ will remain unchanged as of now.
<blockquote><em>“The name has many associated meanings for the company building blocks, neighborhood blocks and their local businesses, communities coming together at block parties full of music, a blockchain, a section of code, and obstacles to overcome,”</em> the company said in its release.</blockquote>
<h2><strong>Former CEO's Passion for Decentralized Tech</strong></h2>
The name change comes from the firm’s desire to embrace blockchain technology, citing that the name change has been in the works for the past year.

Dorsey has been a long-time proponent of Bitcoin. In a conference, earlier this year, he said on the flagship <a href="https://www.cryptoknowmics.com/news/bitcoin-hit-a-record-of-ath-one-year-ago-today/">cryptocurrency</a> “I don’t think there’s anything more important in my lifetime to work on.” Regarding the name change, he added, <em>"Block is a new name, but our purpose of economic empowerment remains the same. No matter how we grow or change, we will continue to build tools to help increase access to the economy."</em>

Square holds about $220 million of bitcoin in its corporate treasury. Its CashApp allows users to buy and sell bitcoin. In August, the company started a new unit aimed at building a decentralized exchange for trading crypto assets.

Jack Dorsey Owned Square Rebrands to a New Blockchain-Associated Name

Financial services company co-founded by now-former Twitter CEO Jack Dorsey, Square  has changed its corporate name to Block.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Jack Dorsey Owned Square Rebrands to a New Blockchain-Associated Name

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