Square is changing its name to Block – TechCrunch

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FinTech’s huge square has changed its name to block, Effective December 10th. over 1 yearAims to bring the company’s various products, including music streaming services Tidal, Cash App, TBD, and of course Square, into one brand.

This announcement will come a few days after Jack Dorsey, Square’s founder and CEO. Get off From the role of CEO on Twitter, which he also co-founded.

“We have built the Square brand for our seller business, which is where it belongs,” Dorsey said. Press release.. “Block is a new name, but the purpose of economic empowerment remains the same. No matter how we grow or change, we will continue to build tools that will help us gain access to the economy. “

The name Brock also agrees with the company’s growing interest in blockchain technology and cryptocurrencies. Existing Square Crypto products will also be renamed to Spiral.

“Blocks are neighborhood blocks with sellers, blockchains, music-filled block parties, obstacles to overcome, chord sections, building blocks, and of course tungsten cubes,” the company said. I wrote in a tweet..

Of course, Square isn’t the first major tech company to rebrand this year.Facebook Changed the corporate brand As the company faced more and more scrutiny, just a month ago in Meta In the press When In parliament.. But like Square, MetaCEO Mark Zuckerberg said that Facebook brands are Instagram, WhatsApp, Horizon, quest..

Square also mentions the timing of this brand change. Presentation: “Not all metas get … but we do!”

Earlier this year, Square Merged with AfterpayBuy now and pay for the item later.The company’s Cash App has also recently been expanded to include teens aged 13-17. Open an account Under parental supervision while Tidal prepares for a shift to Direct payment of artist royalties In the new year.

The block’s NYSE ticker symbol SQ remains the same. The company also added that there would be no organizational changes at this time.

developing…

Square is changing its name to Block – TechCrunch Source link Square is changing its name to Block – TechCrunch

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