Square’s new Bitcoin business unit is TBD

Jack Dorsey, CEO of both Twitter and Square, is enough of a fan of cryptocurrency that Square’s push into the area won’t stop at releasing a hardware wallet. Instead, the company is creating a new business, to go with existing units like Tidal and Cash App, which is “focused on building an open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services.”

Like our new #Bitcoin hardware wallet, we’re going to do this completely in the open. Open roadmap, open development, and open source. @brockm is leading and building this team, and we have some ideas around the initial platform primitives we want to build.

— jack (@jack) July 15, 2021

What does that mean exactly? Is the new business called TBD, or is the name “to be determined” at a later date? In the words of at least one editor of The Verge, “I absolutely do not know what he is talking about.” When…

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