Jack Dorsey-led Block set to join S&P 500 index in new milestone, to replace Hess

Jack Dorsey’s Block Inc. will participate in the S&P 500 index, a milestone, which underlines the increasing impact of digital payments and crypos in the main financing.

Fintech will replace HESS Corp in the comparison following Chevron Corp.’s $ 53 billion energy producer.

According to the press release on Friday, S&P Dow Jones Indices will enter into force before the process began on July 23rd. Block shares rose to 14% in post -overtime transactions.

Block, previously known as Square, has become a broader player than a payment processor, offers inter -spousal transfers, seller services and increasingly consumer loans.

Earlier this year, Block Industrial Bank Square Financial Services A.Ş. received approval from the US Federal Deposit Insurance Corp.

The company also integrates Bitcoin payment capabilities into square terminals and reflects Dorsey’s long -standing advocacy for Bitcoin. Recently, it continues to be an effective sound in the world of digital being, which shares open -source coding projects in X.

Even if the company has results of unequal earnings, Block aims to transform the cash application into a full -scale banking and lending product.

The United States can increase the profile of a company and become more important as passive investment funds grow. Since index funds sell shares to re -align the S&P 500 with the new composition, it may focus on the deportation stock prices.