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Jack Dorsey: Square (NYSE: SQ) to launch new Bitcoin unit ‘Square Crypto’

Square to launch new Bitcoin unit Square Crypto

Billionaire Jack Dorsey, the CEO of Square and the co-founder of Twitter, announced today that Square,Inc. (NYSE: SQ) is hiring a team of 4 crypto engineers and 1 designer to work full-time on open source contributions to the bitcoin/crypto ecosystem and a new crypto unit, called “Square Crypto”.

“This will be Square’s first open source initiative independent of our business objectives. These folks will focus entirely on what’s best for the crypto community and individual economic empowerment, not on Square’s commercial interests. All resulting work will be open and free,” tweeted the founder.

Jack Dorsey continued: “Square has taken a lot from the open source community to get us here. We haven’t given enough back. This is a small way to give back, and one that’s aligned with our broader interests: a more accessible global financial system for the internet.”

“I love this technology and community. I’ve found it to be deeply principled, purpose-driven, edgy, and…really weird. Just like the early internet! I’m excited to get to learn more directly,” coudn’t hide his excitement one of the most notable bitcoin advocates, Jack Dorsey.

As reported earlier this year, Square Inc. company generated $166,517 million in Bitcoin (BTC) revenue for Q4 2018.

“As we reinvest for growth, we are seeing strong momentum in our ecosystem: Notably, Cash App had more than 15 million monthly active customers in December 2018, which is more than double year over year. These three strategic areas represent long-term opportunities for Square to create meaningful value for our customers,” said Dorsey back in February 2019.

About Mantas Malukas

Mantas is the founder of Dapp Life, crypto investor and an online entrepreneur who has professionally immersed in digital publishing and development for over a decade.

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