Full-Time
Financial services and payment processing solutions
$123.4k - $223.1k/yr
Mid, Senior
New York, NY, USA
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Block Inc. specializes in financial services technology, providing a range of products designed to support small businesses and individual users. Its main product, Square, offers point-of-sale systems and payment processing solutions that help businesses manage transactions efficiently. The Cash App allows users to send money to each other, invest in stocks and Bitcoin, and use a customizable debit card for spending. Block is also venturing into the music streaming industry with TIDAL and is working on enhancing Bitcoin's utility and security through projects like Spiral and a dedicated hardware wallet. What sets Block apart from its competitors is its diverse ecosystem that integrates various financial services, making it easier for users to manage their finances in one place. The company's goal is to create a seamless and comprehensive financial experience for both businesses and consumers.
Company Size
10,001+
Company Stage
IPO
Headquarters
Oakland, California
Founded
2009
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Remote Work Options
Health Insurance
Flexible Work Hours
Family Planning Benefits
Investigations carried out by the regulator reveal Block's alleged shortcomings in its customer due diligence practices and failure to implement controls to prevent anti-money laundering and other illicit activities.
Block will pay a $40 million penalty over anti-money laundering deficiencies in its Cash App. The New York Department of Financial Services (NYDFS) announced the penalty Thursday (April 10), saying it came after the regulator found “significant failures” in Block’s Bank Secrecy Act/anti-money laundering (BSA/AML) compliance program. “All financial institutions, whether traditional financial services companies or emerging cryptocurrency platforms, must adhere to rigorous standards that protect consumers and the integrity of the financial system,” NYDFS Superintendent Adrienne Harris said in a news release
Block announced it has released a new open source toolkit designed to help companies manage their Bitcoin treasury holdings more efficiently.
Block unveils a real-time Bitcoin dashboard and pricing API for corporate treasuries, aiming to lower the operational barrier for companies managing digital assets.
Fintech company Block has announced its plans to provide its Cash App solution as a banking option for US consumers. Through this move, Block aims to place Cash App, which, according to the company, has 57 million active users, as a banking option for households across the US. The app provides high-yield savings accounts, debit cards, short-term lending, and BNPL options through Afterpay. Additionally, 2.5 million users deposit their paychecks directly into Cash App, with Block mentioning a 25% year-over-year expansion.However, converting Cash App’s active users into banking customers could pose difficulties for Block, as, despite expansion in services, the company’s stock is witnessing a 32% year-to-date drop. Commenting on the news, representatives from Block mentioned that their company’s objective is to evolve from a peer-to-peer payment app to a full-service banking platform that could serve the needs, demands, and preferences of users. Furthermore, through Cash App, Block intends to provide services to a wider range of individuals, including those who typically do not have access to the financial system. With the mobile platform, the company seeks to facilitate access to core money management tools and allow optimal spending, savings, borrowing, and investing