cryptocurrency
Bulletins

Dorsey: Square is creating a new crypto business

It will be a separate unit alongside the company's Seller, Tidal and Cash App businesses, Square's CEO said.

Jack Dorsey at the Bitcoin Miami conference in 2021.

Square CEO Jack Dorsey said the company is forming a new business to focus on bitcoin technology development.

Photo: Joe Raedle/Getty Images

Square is creating a new business unit focusing on cryptocurrencies, long a fascination of CEO Jack Dorsey. The goal is to build a developer platform making it "easy to create non-custodial, permissionless, and decentralized financial services," Dorsey said in a tweet.

The bitcoin-focused unit, as yet unnamed, will be its own unit like the original Seller business Square is best known for, Cash App and Tidal, Dorsey said. It will separate from Square's existing crypto efforts.

The unit's products will be open source and developed in the open, he added, like its bitcoin hardware wallet.

Tomio Geron

Tomio Geron ( @tomiogeron) is a San Francisco-based reporter covering fintech. He was previously a reporter and editor at The Wall Street Journal, covering venture capital and startups. He was also as a staff writer at Forbes covering social media and venture capital, and edited the Midas List of top tech investors. He can be reached at tgeron@protocol.com or tgeron@protonmail.com.

jack dorseybitcoincryptocurrency
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