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Square Building New Bitcoin-Inspired Financial Services Business

Jack Dorsey speaks at the Bitcoin 2021 conference in Miami, Florida.
Jack Dorsey speaks at the Bitcoin 2021 conference in Miami, Florida.Photographer: Eva Marie Uzcategui/Bloomberg
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Square Inc. is creating a new business line to help developers build financial services products focused on Bitcoin, according to tweets from Chief Executive Officer Jack Dorsey.

Square is “building an open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services,” Dorsey tweeted Thursday, adding that the new business doesn’t yet have a name. “Our primary focus is #Bitcoin,” he said. A company spokeswoman declined to share further details.