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13.12 - 14:35
Jack Dorsey’s Square changes corporate name to Block
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cnbc.comSquare is renaming itself Block as it focuses on technologies like blockchain and expands beyond its original credit card reader business.
Jack Dorsey's payments giant said in an announcement the new name, effective Dec. 10, «acknowledges the company's growth» and «creates room for further growth.» Block will still trade under the ticker SQ on the Nasdaq.
«We built the Square brand for our Seller business, which is where it belongs,» Jack Dorsey, cofounder and CEO of Block, said in a statement. «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.»
Dorsey co-founded Square in 2009 with a focus on in-person
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