That’s per a Friday (July 18) report by Bloomberg News, which positions the news as a milestone for Block and a sign of the growing mainstreaming of digital payments and cryptocurrency in the finance world.
Block will replace Hess on the S&P beginning July 23 at the start of trading, the report said. That follows Chevron’s $53 billion acquisition of Hess.
As Reuters noted, Block has transformed itself from a payments processing company to a FinTech that offers peer-to-peer transfers, merchant services and consumer lending, with Square getting the OK from the Federal Deposit Insurance Corp. (FDIC) earlier this year to offer consumer loans through its Cash App Borrow product.
In addition, the company is integrating bitcoin payment…
Jul 21 2025
