Square Is Staffing up for a New Cryptocurrency Unit, Says Jack Dorsey

March 20, 2019, 11:23 PM UTC

Square CEO Jack Dorsey said he wants to hire a few cryptocurrency engineers and a designer, to conduct work that will contribute to advancing an accessible, Internet-based financial system that benefits the greater community.

The new employees be able to work from wherever they want, report directly to Dorsey, and can even be paid in Bitcoin, if they so choose.

“I love this technology and community. I’ve found it to be deeply principled, purpose-driven, edgy, and…really weird. Just like the early internet! I’m excited to get to learn more directly,” Dorsey tweeted on Wednesday afternoon.

Square already allows people to buy and sell Bitcoin on its Cash App, which is also a mobile payments platform that competes with Venmo.

Dorsey said Square “has taken a lot from the open source community to get us here,” so this would be his way of giving back to the community—while also helping to further Square’s “broader interest” of having an accessible financial system for the Internet.

“This will be Square’s first open source initiative independent of our business objectives. These folks will focus entirely on what’s best for the crypto community and individual economic empowerment, not on Square’s commercial interests,” Dorsey wrote. “All resulting work will be open and free.”