Square CEO Jack Dorsey said that the company is building a new department that will focus on building decentralized financial services that use Bitcoin.

Earlier today, Jack Dorsey announced the news on Twitter and revealed that Square’s new division will establish an “open developer platform, with the sole goal of enabling the creation of non-custodial, permissionless and decentralized Financial services have become easier. Our main focus is Bitcoin.”

Just like our new Bitcoin hardware wallet, we will do this in full disclosure. Open roadmap, development process and open source. Mike Brock is the leader and creator of this team, and we have some ideas about the initial platform prototype we want to build.
— Jack (@jack) July 15, 2021
The Bitcoin supporter also opened a special Twitter account for the project, which is currently called “TBD”. The avatar is a photo of pop musician Drake wearing red laser eyes.

Earlier this month, Jack Dorsey announced on Twitter that Square will launch its own Bitcoin hardware wallet.

How is this different from Square Crypto? Square did not give Square Crypto a direction, only providing funds. They chose LDK and are doing an incredible job! TBD will focus on creating a platform business and open source our work in the process.

#KDA##BTC#