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Over the years, Square (NYSE:SQ) managed to emerge as one of the most innovative payments company in the United States, and it is no surprise that the company came up with Square Crypto in 2019. Back in March this year, Square made the announcement that it was going to go into crypto, and now the company has started hiring to kickstart the project.
Completes Inaugural Developer Team
The company announced that it has completed the ‘inaugural developer team’ for the project and has made key appointments already. The development team will be involved in developing the base for Bitcoin development, and it is going to be open source in nature.
One of the appointments to the development team is that of Arik Sosman, who previously worked at BitGo and Facebook (NASDAQ:FB). In addition to Sosman, the other two people added to the Square Crypto team include Jeffrey Czyz and Valentine Wallace. Wallace used to work for Lightning Labs while Czyz had been associated with Google (NASDAQ:GOOGL). Sosman shares his thoughts after having joined this small team. He said, “I’m extremely excited and grateful for the opportunity to join this amazing team, and to focus on contributing to the most important cryptocurrency and ecosystem.”
That being said, the company had earlier sent out a tweet on Thursday in which it stated that it was still unsure about its first crypto project. The new business created by Square is going to be completely separate from its core payments business.
However, it is still a major development for the crypto space and is another indication that some of the more serious tech-based firms in the world have grasped its importance. The other existing team members include Steve Lee and Matt Corallo. Lee stated that at this point in time, the team is prepared to take up any crypto project as long as it goes towards the improvement of Bitcoin.