Square prepares an open platform for cryptocurrency financial products

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Square CEO Jack Dorsey said the company is currently working on a new open platform for Bitcoin-related financial services.

“Square is creating a new business (and joining Seller, Cash App and Tidal) with a focus on creating an open platform for developers. The main and only goal of the new business is to simplify the creation of non-custodial and decentralized financial services with an emphasis on bitcoin “, – stated Dorsey.

The new initiative is spearheaded by Mike Brock, who previously served as Head of Strategic Development for Square Cash App. The platform developers have launched Github and Twitter accounts for the new company, and all details about the platform will appear there.

The CEO of Square also stressed that when the platform is created, its roadmap will be open, and the project itself will be open source. The same approach is being used in the development of the hardware wallet from Square, the creation of which became known recently.

Recall that Jack Dorsey himself is a dedicated fan of bitcoin and refuses to buy other cryptocurrencies. He doesn’t even have ETH in his portfolio. In his opinion, bitcoin should become the “single currency of the Internet.”

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