“Square is creating a new business (joining Seller, Cash App, & Tidal) focused on building an open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services. Our primary focus is #Bitcoin. Its name is TBD,” Square’s CEO Jack tweeted.
According to him, the new Bitcoin platform will be completed with transparency and openness. The roadmap, development, and source would be open. Mike Brock (@brockm on Twitter), will lead the team behind the new project development. The leading team has ideas on the upcoming project already and the details are being discussed.
Jack also cleared out that the new platform would be different from Square Crypto as the team is just providing the funding needs of the said app. The new project will aim to provide a platform business and will be an open source network.
Recently, the popular payment processing firm, Square, has revealed intentions to create a hardware wallet for bitcoin so that people may safely store their cryptos “more mainstream.” To help make it easier for users to participate in testing and feedback, Dorsey highlighted that development for the new financial platform would be open and public.