(Block Inc.) Jack Dorsey’s Square has changed its corporate name to Block in a rebranding move seen to signal its intentions into blockchain technology.
Square said that the name change brings together the company’s Cash App, streaming platform Tidal, and decentralized BTC Exchange tbDEX.
Square also said that its digital assets-focused unit Square Crypto will join the Block family under the name Spiral.
The payments giant says it has been working to make the change for more than a year, but that does not alter the company’s structure, purpose, or vision.
Square’s rebranding comes two days after CEO Jack Dorsey relinquished his role in Twitter, welcoming Parag Agrawal, a board member, to the position.
Block, the new legal name of Square, would become effective around December 10.
SQ: NYSE is up +0.39% on premarket.
