In short: Square becomes Block

Particularly dynamic in recent months, Square, the American payment acceptance giant, has just announced a name change to better define the group's many new activities. While the payment activity will keep its name Square, the group has been renamed Block, which reflects its ambitions in the field of blockchain and cryptocurrencies.

Square Inc. will therefore become Block Inc. and will bring together the many brands now held by the group, such as Square (cash in), Tidal (music streaming), Square Banking and Cash App (money transfer). The group is also interested in credit and crypto-currencies. Its Square Crypto business will also be renamed Spiral.

The name Block refers not only to the group's move into crypto-currencies and blockchain, but also to its commitment to offering a global ecosystem made up of several businesses.

Jack Dorsey, co-founder of Twitter and Square, had recently stepped down as CEO of the social network to focus on the Square/Block business, which investors hailed as a strong move given the size of the new group and its multiple businesses.