DeFi on Bitcoin: Jack Dorsey launches new Square division to make it ‘easy’

Jack Dorsey has outlined plans to build an open developer platform focused on creating Bitcoin DeFi services.

Square CEO Jack Dorsey has stated that the firm is building a new division that will focus on building decentralized finance services that utilize Bitcoin.

Dorsey made the announcement via Twitter earlier today, and revealed that Square’s new division will be 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”

The Bitcoin proponent has also launched a dedicated Twitter account to the project, which is dubbed “TBD” at this stage and features a profile picture of popular musician Drake donning red lazer eyes.

The announcement follows up from earlier this month when Dorsey took to Twitter to announce that Square will be launching its own Bitcoin hardware wallet.

More to come …

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Author: Brian Quarmby

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