Dorsey-led Square Rebrands To Block In Nod To Blockchain© gadgets.ndtv.com

Dorsey-led Square Rebrands To Block In Nod To Blockchain

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Jack Dorsey''s financial services company Square has announced to change its name to Block, effective from December 10, as the former Twitter CEO renews his focus on Blockchain and cryptocurrencies.

This announcement came after Square Founder Dorsey, who is a staunch supporter of Bitcoin, stepped down as Twitter CEO.

"We built the Square brand for our Seller business, which is where it belongs," said 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," he said in a statement late on Wednesday.