Its main goal, according to Dorsey, is the facilitation of the creation of “non-custodial, permissionless, and decentralized financial services.”
The business is being built in collaboration with Tidal, CashApp, and Seller, with the main focus of the business on Bitcoin.
“Like our new Bitcoin hardware wallet, we’re going to do this completely in the open. Open roadmap, open development, and open source,” Dorsey wrote.
He also promised to create GitHub and Twitter to showcase the development in real-time.
Price Action: Square stock closed at $235, down 1.61% and was trading at 1.06% higher at $237 after-hours.
This story originally appeared on Benzinga. © 2021 Benzinga.com.
Benzinga does not provide investment advice. All rights reserved.