Square buys majority of Tidal

Friday 5 March 2021 12:53 CET | News

Square, a fintech company that serves both individuals and companies, has purchased a majority stake in Tidal, a music streaming service. 

The deal, worth some USD 297 million, will allow artist-partners to keep their ownership in the music company.

Such offerings could take advantage of emerging technologies such as blockchain and cryptocurrencies. Among the blockchain systems that Square and Tidal could help popularise are digital files known as non-fungible tokens (NFT) that serve as digital signatures to certify who owns photos, videos, and other online media.

Square did not disclose the percentage of its ownership via the cash and stock deal.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: acquisition, blockchain, cryptocurrency
Categories: Banking & Fintech | Payments General
Countries: World
This article is part of category

Banking & Fintech