The rebranding is due to the project's commitment to blockchain. Square joins ecosystem with Cash App, tbDEX decentralized crypto exchange and Tidal music and video streaming platform
Payment company Square has announced its name change to Block. The approximate date of the official rebranding is December 10. The Square name will remain with the payment platform, which has been accepting and processing payments for small and medium-sized businesses since 2009.
The new name Block reflects the company's development into an ecosystem. It includes the Cash App service, the Tidal music and video streaming platform, and the tbDEX decentralized crypto exchange. Block will also include the Square Crypto cryptocurrency initiative, which will change its name to Spiral.
Block co-founder and CEO Jack Dorsey announced his resignation as head of Twitter this week. The Board of Directors of the company approved Paraga Argavala as the new head of the technical director.