Square to Launch Bitcoin DeFi Platform

Last night, Twitter and Square CEO Jack DORSEY announced on Twitter that Square will launch a new company focused on creating an open platform for decentralized and non-custody financial services. He added that the focus will be on bitcoin.

Jack Dorsey also stated that the project will be open source. It is currently unclear to what extent the company's business element will spill over into the platform and whether it will be decentralized like bitcoin.

Jack Dorsey also plans to host a conference called "The B Word" with the aim of getting more organizations to use bitcoin. Speakers include Ark Invest CEO Cathie Wood and Blockstream CEO Adam Back.

Image: The Cryptonomist