Sq. is altering its identify to Block – TechCrunch

The FinTech large Sq. is altering its identify to Block, efficient December 10. The identify change, which has been within the works for over a year, is meant to accommodate the corporate’s varied merchandise — together with music streaming service TIDAL, Money App, TBD, and naturally, Sq. — beneath one model.

This announcement comes simply days after founder and CEO Jack Dorsey stepped down from his CEO position at Twitter, which he additionally co-founded.

“We constructed the Sq. model for our Vendor enterprise, which is the place it belongs,” mentioned Dorsey in a press launch. “Block is a brand new identify, however our goal of financial empowerment stays the identical. Regardless of how we develop or change, we’ll proceed to construct instruments to assist enhance entry to the financial system.”

The identify Block can also be a nod to the corporate’s rising curiosity in blockchain expertise and cryptocurrency. The present Sq. Crypto product may also be renamed to Spiral.

“Block references the neighborhood blocks the place we discover our sellers, a blockchain, block events stuffed with music, obstacles to beat, a bit of code, constructing blocks, and naturally, tungsten cubes,” the corporate wrote in a Tweet.

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