REUTERS: Square Inc, a fintech company, is launching a new bitcoin-focused business, according to Chief Executive Officer Jack Dorsey in a tweet on Thursday. The new business will concentrate on developing an open developer platform that will make it simple to construct decentralized financial services. (https://bit.ly/3wJcFuv)
“Its (new business) name is TBD,” Dorsey tweeted, without specifying whether the name was yet to be selected or if it will be called “TBD.”
Mike Brock, the head of Square’s payments provider Cash App’s Strategic Development Group, will lead the company.
Like Square’s previously announced hardware wallet for bitcoin, which can be stored offline or online at cryptocurrency exchanges, this will be totally open source.
(In Bengaluru, Chavi Mehta reported; Shounak Dasgupta and Krishna Chandra Eluri edited)
Reuters is the source of this information./n
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