Jack Dorsey's payments firm is rebranding. The changes will take effect on December 10.
According to statement, the name change reflects the company's desire to gain a foothold in the blockchain and innovative payment technologies market. The press release states:
Block is the new name for the Square brand. At the same time, our idea of expanding economic opportunities for people remains unchanged. We will continue to develop tools that help gain expanded access to the economy.
In addition to changing the name 'Square' to 'Block', the 'Square Crypto' department has been renamed 'Spiral'.
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