{"id":53944,"date":"2021-12-02T10:25:38","date_gmt":"2021-12-02T08:25:38","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=53944"},"modified":"2025-09-03T17:41:23","modified_gmt":"2025-09-03T14:41:23","slug":"square-to-rename-to-block-as-it-focuses-on-blockchain-projects","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/square-to-rename-to-block-as-it-focuses-on-blockchain-projects\/","title":{"rendered":"Square to rename to Block as it focuses on blockchain projects"},"content":{"rendered":"<p>The payments company Square has announced a rebrand, changing its name to Block. The move was tied to reflecting the growth of the group and its commitment to blockchain projects.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We\u2019re changing our company name so we can give the full <a href=\"https:\/\/twitter.com\/Square?ref_src=twsrc%5Etfw\">@Square<\/a> brand to our Seller business. So now we need a name to tie <a href=\"https:\/\/twitter.com\/Square?ref_src=twsrc%5Etfw\">@Square<\/a>, <a href=\"https:\/\/twitter.com\/CashApp?ref_src=twsrc%5Etfw\">@CashApp<\/a>, <a href=\"https:\/\/twitter.com\/TIDAL?ref_src=twsrc%5Etfw\">@TIDAL<\/a>, and <a href=\"https:\/\/twitter.com\/TBD54566975?ref_src=twsrc%5Etfw\">@TBD54566975<\/a> together into one. That name is \u201cBlock.\u201d Why? <a href=\"https:\/\/t.co\/vVSKNnMUU3\">https:\/\/t.co\/vVSKNnMUU3<\/a><\/p>\n<p>\u2014 Square (@Square) <a href=\"https:\/\/twitter.com\/Square\/status\/1466158910067388423?ref_src=twsrc%5Etfw\">December 1, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>We created the Square brand for our merchant-focused business, and that is where it belongs. Block is a new name, but our goal of expanding economic opportunities remains the same. Regardless of our growth or development we will continue to build tools that help broaden access to the economy, \u2014 <a href=\"https:\/\/www.businesswire.com\/news\/home\/52543725\/en\">said<\/a> the head of the company, Jack Dorsey.<\/p>\n<\/blockquote>\n<p>It is expected that Square will change its legal name on December 10. Its shares will continue to be listed on the NYSE under the ticker SQ.<\/p>\n<p>The company\u2019s divisions\u2014Square, Cash App, TIDAL and TBD\u2014will keep their names and continue to pursue their respective directions. The bitcoin-promoting project Square Crypto will now be called Spiral.<\/p>\n<p>The project team <a href=\"https:\/\/spiral.xyz\/blog\/we-were-square-crypto-now-were-spiral\/\">noted<\/a> that the rebrand will emphasise its independence from the \u201ccorporate benefactor\u201d and its commitment to product development focused on Bitcoin.<\/p>\n<p>Square announced the forthcoming name change just days after Dorsey <a href=\"https:\/\/u1f987.com\/en\/news\/jack-dorsey-steps-down-as-twitter-chief-executive\">left the position of Twitter CEO<\/a>.<\/p>\n<p>Earlier, the company invested in digital gold <a href=\"https:\/\/u1f987.com\/en\/news\/square-invested-50-million-in-bitcoin\">$50 million<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/square-invests-a-further-170-million-in-bitcoin\">$170 million<\/a>.<\/p>\n<p>In July 2021 the firm <a href=\"https:\/\/u1f987.com\/en\/news\/square-confirms-plans-to-develop-a-hardware-bitcoin-wallet\">announced<\/a> the development of a hardware wallet and a service for storing Bitcoin. Later, Dorsey said that Square was considering the possibility <a href=\"https:\/\/u1f987.com\/en\/news\/jack-dorsey-square-weighs-developing-an-open-source-bitcoin-miner\">of creating an open-source device for mining the first cryptocurrency<\/a>.<\/p>\n<p>Dorsey also <a href=\"https:\/\/u1f987.com\/en\/news\/jack-dorsey-to-spearhead-development-of-a-decentralized-bitcoin-exchange\">spoke of work on the open TBD platform<\/a> for creating a decentralized Bitcoin exchange based on his payments company. A few months later <a href=\"https:\/\/u1f987.com\/en\/news\/jack-dorsey-shares-white-paper-for-the-decentralized-bitcoin-exchange-tbd\">he published a link to a white paper<\/a>.<\/p>\n<p>In the third quarter of 2021, Square <a href=\"https:\/\/u1f987.com\/en\/news\/squares-bitcoin-sales-gross-profit-in-q3-totalled-42-million\">reported a profit<\/a> from selling bitcoin through the Cash App in the amount of $42 million.<\/p>\n<p>Read ForkLog\u2019s bitcoin news on our Telegram \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The payments company Square announced a rebrand \u2014 it will change its name to Block. The move was linked to reflecting the growth of the group and its commitment to blockchain projects.<\/p>\n","protected":false},"author":1,"featured_media":53945,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1330,1534,2009],"class_list":["post-53944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-jack-dorsey","tag-square","tag-square-crypto"],"aioseo_notices":[],"amp_enabled":true,"views":"35","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/53944","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=53944"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/53944\/revisions"}],"predecessor-version":[{"id":53946,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/53944\/revisions\/53946"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/53945"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=53944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=53944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=53944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}