Block CEO Jack Dorsey told investors that they were no longer just a payment company. The company is entering the cryptocurrency and blockchain ecosystem with a strong focus on Bitcoin. Dorsey says;
We are no longer just a payment company. Much has changed since our last investor days.
The block, formerly known as Square, was launched in 2009. At the time, the company focused on creating a credit card reader for mobile phones. However, it has expanded its operations into areas such as peer-to-peer payments and banking products, including the cash app.