KUALA LUMPUR, Dec 2 (Bernama) -- Square Inc has announced it is changing its name to Block. Block will be the name for the company as a corporate entity.
The Square name has become synonymous with the company’s Seller business, which provides an integrated ecosystem of commerce solutions, business software, and banking services for sellers, and this move allows the Seller business to own the Square brand it was built for.
The change to Block acknowledges the company’s growth. Since its start in 2009, the company has added Cash App, TIDAL, and TBD54566975 as businesses, and the name change creates room for further growth.
According to a statement, Block is an overarching ecosystem of many businesses united by their purpose of economic empowerment, and serves many people—individuals, artists, fans, developers, and sellers.
“We built the Square brand for our Seller business, which is where it belongs,” said Block co-founder and CEO, Jack Dorsey.
“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.”
The name change to Block distinguishes the corporate entity from its businesses, or building blocks.
The name has many associated meanings for the company — building blocks, neighbourhood blocks and their local businesses, communities coming together at block parties full of music, a blockchain, a section of code, and obstacles to overcome.
For more information, visit www.block.xyz.
-- BERNAMA
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