Block has been included in the S&P 500 Index

According to ChainCatcher, citing a report from Decrypt, Block Inc, the payment platform founded by Twitter co-founder Jack Dorsey, was officially included in the S&P 500 Index yesterday. Block (stock symbol: XYZ) was originally established in 2009 under the name Square, initially focusing on providing financial services and mobile payment solutions. In December 2021, the company rebranded as Block Inc. to reflect its growing interest and involvement in blockchain technology and digital assets.

Its payment platform, Square, was among the first to offer Bitcoin payment services to merchants. This service leverages the Bitcoin Lightning Network technology, enabling merchants to accept Bitcoin payments directly through Square hardware devices, allowing for near-instant, low-cost transaction processing.