Singapore markets closed
  • Straits Times Index

    3,270.98
    -11.90 (-0.36%)
     
  • Nikkei

    27,999.96
    -249.28 (-0.88%)
     
  • Hang Seng

    20,003.44
    -42.33 (-0.21%)
     
  • FTSE 100

    7,489.94
    +7.57 (+0.10%)
     
  • BTC-USD

    23,839.86
    -135.80 (-0.57%)
     
  • CMC Crypto 200

    556.72
    +13.84 (+2.55%)
     
  • S&P 500

    4,140.06
    -5.13 (-0.12%)
     
  • Dow

    32,832.54
    +29.04 (+0.09%)
     
  • Nasdaq

    12,644.46
    -13.14 (-0.10%)
     
  • Gold

    1,808.10
    +2.90 (+0.16%)
     
  • Crude Oil

    89.28
    -1.48 (-1.63%)
     
  • 10-Yr Bond

    2.7650
    0.0000 (0.00%)
     
  • FTSE Bursa Malaysia

    1,496.00
    -0.03 (-0.00%)
     
  • Jakarta Composite Index

    7,102.88
    +16.03 (+0.23%)
     
  • PSE Index

    6,468.97
    +34.73 (+0.54%)
     

Square changes its name to Block as focus shifts

Square - a payments firm led by Twitter co-founder Jack Dorsey - is having a rebrand.

The fintech company announced Wednesday it was changing its name to Block in a nod to its growing interest in blockchain and cryptocurrency.

The move comes days after Dorsey stepped down from his role as CEO of Twitter.

From next week, Block will be the name for the company as a corporate entity and will distinguish it from its business units.

Those include its peer-to-peer payment service Cash App, music streaming service Tidal and its bitcoin-focused financial services segment.

Dorsey has frequently expressed an interest in cryptocurrency.

Under his tenure, Square bought $50 million worth of bitcoin before the wave of institutional interest that sent its value soaring.

In February, Dorsey further raised the firm's wager and invested another $170 million in it.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting