Block (NYSE:XYZ) (NYSE:XYZ), formerly known as Square, is a financial technology company that develops tools for businesses, consumers and creators. Founded in 2009 by Jack Dorsey and Jim McKelvey, the company changed its corporate name to Block in 2021 to reflect the expansion of its operations beyond its original seller-payments business.
Block’s Square ecosystem provides payment processing, point-of-sale hardware and software, business banking, invoicing, payroll, inventory management and other services for merchants. Its consumer-focused Cash App offers peer-to-peer payments, money transfers, direct deposit, investing and related financial services. Block also owns Afterpay, a buy now, pay later platform, and provides bitcoin-related products and services, including the Bitkey self-custody wallet.
The company serves customers primarily in the United States and also operates in selected international markets, including Canada, Australia, Japan, the United Kingdom and parts of Europe. Block is led by co-founder Jack Dorsey, who serves as chief executive officer, with Amrita Ahuja serving as chief financial officer.
