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Square changes name to Block

Square changes name to Block

Payments company Square has changed its name to Block two days after CEO Jack Dorsey left his other company, Twitter.

Square says its name had become synonymous with the Seller business that grew out of the credit card reader it launched with back in 2009.

Over the years, various other "blocks" have been added, including the Cash App, Tidal music streaming service and the crypto and blockchain-focused TBD54566975.

The name change to Block distinguishes the corporate entity from its businesses and there will be no organisational changes, with Square, Cash App, Tidal, and TBD54566975 keeping their brands.

Square Crypto, a separate initiative dedicated to advancing bitcoin, will change its name to Spiral.

Says a statement: "The name has many associated meanings for the company — building blocks, neighborhood blocks and their local businesses, communities coming together at block parties full of music, a blockchain, a section of code, and obstacles to overcome."

Adds Dorsey: "Block is a new name, but our purpose of economic empowerment remains the same. No matter how we grow or change, we will continue to build tools to help increase access to the economy."

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