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Square Becomes Block a Week after Dorsey's Exit as Twitter CEO
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blockchain.newsInitially, a credit card-reader business, Square Inc renames itself as Block Inc as it plans to broaden its services towards blockchain, music, and cash transfers.
The name change of the payments giant co-founded by cryptocurrency fanatic Jack Dorsey — who quit as the CEO of Twitter earlier this week — will be effective from Dec 10, and the name of the seller product Square will remain the same. Also, the new corporate identity won’t lead to any organisational changes.
The company said in an announcement that the new name “acknowledges the company’s growth” and “creates room for further growth.”
The company’s stock ticker — SQ — will also stay the same.
“We built the Square brand for our Seller business, which is where it belongs,” Dorsey,
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