Entrepreneur Jack Dorsey and his team at Square Financial Services are always busy working on something new and fresh. The fintech company Square is creating a new business focused on bitcoin, Chief Executive Officer Jack Dorsey said in a tweet on Thursday.
“Like our new #Bitcoin hardware wallet, we’re going to do this completely in the open,” he tweeted Thursday. “Open roadmap, open development, and open source.”
“Its new venture’s name is TBD,” Dorsey tweeted but did not elaborate if the name was to be determined or if it was going to be named “TBD”.
According to news report, the new business will be led by Mike Brock, who heads the Strategic Development Group at Square’s payments service Cash App.
The San Francisco-based digital payments company has three business lines: Cash App, Square Seller products and the music-streaming service Tidal, which it acquired earlier this year. Dorsey has long been interested in transforming Square into a broader organization with a number of standalone units.