Following Jack Dorsey’s resignation as the CEO of Twitter early this week, he announced in a statement that Square, his other company where he remains the CEO, has changed its name to Block.
Launched in 2009, the company has added Cash App, TIDAL and TBD54566975 as businesses and the change of name acknowledges the company’s growth.
The company also announced that Square Crypto, a separate initiative of the company that is dedicated to advancing Bitcoin will also change its name to Spiral.
Block will represent the corporate parent of Square, which will remain the name of the business that provides software and services to sellers.
Dorsey said in the statement that although company changed its name, the focal objectives remain the same. He added that the various brand under the Square umbrella such as Cash App and music streaming service Tidal will retain their respective names and organizational structure.
