In the spirit of changing the names of well-known organizations, financial services company Square is now known as Block.
Former Twitter CEO Jack Dorsey co-founded the company that has grown its interests from finances. The company is now a stakeholder in Tidal, a music, podcast, and video streaming service, and the name change acknowledges this growth. Dorsey currently serves as CEO.
“We built the Square brand for our Seller business, which is where it belongs,” Dorsey said in a press release. “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.”
The change also resulted in Square Crypto, an initiative under the company focusing on Bitcoin, now being known as Spiral. The press release notes no organizational changes will occur.
Image credit: Block