Square creates new business to jump into decentralized finance, Dorsey tweets

Joe Raedle/Getty Images News Square (SQ) is forming a new business that pulls together Seller, Cash App & Tidal to focus on "building an open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services," CEO Jack Dorsey announces in a tweet. Square shares rise 0.8% in after-hours trading. Recall that in March, Square agreed to acquire a minority stake in Jay-Z's Tidal, a music and entertainment platform that brings together artists and fans. "Like our new #Bitcoin hardware wallet, we're going to do this completely in the open," he wrote. "Open roadmap, open development, and open source." Previously (July 9), Square to move ahead with hardware wallet for bitcoin