Jack Dorsey, CEO of Twitter, has just announced he intends to create a new Bitcoin business based on payments company Square.
According to him, the company plans to launch "an open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services." Dorsey wrote:
"Our primary focus is Bitcoin."
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
Square recently announced it is developing a hardware wallet to store Bitcoins. The new service will adhere to the same principles of total openness, Dorsey has said. He added:
"Open roadmap, open development, and open source."
Dorsey also said he already has some ideas about the initial vector of the platform's development, however, he did not provide further details. The unit will be led by Square's strategic leader, Mike Brock.