Digital payments firm Square Inc, which was cofounded and is led by former Twitter Inc chief executive officer Jack Dorsey, on Wednesday changed its corporate name to Block, as it expands into cryptocurrency and other financial technology tools.
The Square payments platform which was the company’s sole offering when it was founded in San Francisco by Jim McKelvey and Dorsey in 2009 would keep its name, and the now-public company would continue to trade under the symbol “SQ.”
Square started out providing small businesses with devices that plug into smartphones or computer tablets to process credit or debit card payments.
The
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The Square brand was built for the company’s seller business, we’re told, and the change “allows the seller business to own the Square brand it was built.