Block has been included in the S&P 500 Index

ChainCatcher news, according to Decrypt, Twitter co-founder Jack Dorsey's payment platform Block Inc has been added to the S&P 500 index as of yesterday. Block (stock code: XYZ) was originally founded in 2009 under the name Square, initially focusing on providing financial services and mobile payment solutions. In December 2021, the company rebranded to Block Inc., reflecting its growing interest and involvement in blockchain technology and digital assets.

Its payment platform Square began offering Bitcoin payment services to its first merchants. This service utilizes Bitcoin's Lightning Network technology, allowing merchants to accept Bitcoin payments directly through Square hardware, enabling near-instant, low-cost transaction processing.