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Jack Dorsey's Square is creating a new business focused on bitcoin

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Shivangi Mujumdar Follow

INDIA

Jul, 18 2021

Jul, 18 2021

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Jack Dorsey's Square soon shall be making a business that will entirely focus on Bitcoin. Dorsey has already outlined plans to create a platform of an open developer that shall be focusing on Bitcoin DeFi services. On July 15, this news was out by Dorsey via Twitter with an aim to now double down on its Bitcoin bet. 


About the New platform: 

The Tweet that was out by Jack Dorsey states, ‘Square is creating a new business (joining Seller, Cash App, & Tidal) focused on building an open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services. Our primary focus is #Bitcoin. Its name is TBD. 


CEO of Square company Jack Dorsey made an announcement of a new division creation focusing on “building an open developer platform”. The new platform shall entirely be utilizing Bitcoin.  


The announcement was out by Dorsey through Twitter while revealing the new division of the square. Jack Dorsey is already a huge fan of cryptocurrency. With square to be pushed in this area will now further have a great scope for such hardware wallet. 


The company shall come up with this division that shall go along with existing units like Tidal and Cash App. It shall solely focus on creating the non-custodial, permissionless, and decentralized financial services.” 


Dorsey further clarified that this business shall be focusing on Bitcoin besides, there is no name yet but soon the logical services will be started Seller is the online space that helps in connecting the business owners. Todal is known to be a streaming service platform that brings fans and artists together 


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Shivangi Mujumdar

CBW - External Analyst

INDIA

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