Square, the financial payments company helmed by Bitcoin proponent Jack Dorsey, has changed its corporate name to Block.

“We built the Square brand for our Seller business, which is where it belongs,” said Dorsey in a press release. “Block is a new name, but our purpose of economic empowerment remains the same. No matter how we grow or change, we will continue to build tools to help increase access to the economy.”

As part of the name change, Square Crypto–a wing of the company that propels Bitcoin use cases—will be renamed Spiral.

This news is breaking and the article is being updated.

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