Subvolts take Square's product chief discusses AI, crypto, and the future of money. Dec 8, 2025 - Business
- Learn how a major fintech company is planning to use AI and automation to evolve its payment and financial services.
- Everyday users
- Understand the future of digital payments, the role of cryptocurrencies, and changes in how money is handled, like the end of the penny.
This episode features a key executive from a major financial technology company discussing AI's role in their services.
Square's product chief on the death of the penny and the future of money
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From Subvolts
Summary and analysis by Subvolts editorial, AI-assisted.
Nilay Patel interviews Willem Avé, head of product at Square, on the company's future with AI and automation. They discuss Square's evolution beyond its initial credit card reader, its parent company Block's diverse financial services, and Avé's views on crypto and Bitcoin. The conversation also touches on the practical implications of the US discontinuing the penny.
Square's product leader talks about how AI will change their payment services. He also shares his thoughts on Bitcoin and why the US is stopping the use of pennies, explaining how these changes affect how we pay for things.
This episode offers insight into how a major financial technology company like Square is integrating AI and automation into its services. It's for business leaders and consumers interested in the future of payments and digital finance. The discussion on crypto and the penny's demise connects to broader trends in monetary policy and technological shifts, relevant to understanding the evolving financial landscape.
- HostNilay Patel
- GuestWillem Avéhead of product, Square
- Guest: Willem Avé, head of product at Square
- Show: Decoder with Nilay Patel
- Length: 74 minutes
- Square's parent company: Block
- Block's services: Afterpay, Cash App, Tidal
Today, I’m talking with Willem Avé, who’s the head of product at Square. You know Square — it was started by billionaire Jack Dorsey of Twitter fame more than 15 years ago, and it got big on the back of that little magnetic reader that once plugged into the headphone jack of the iPhone and let small businesses accept credit cards.
Nowadays, of course, Square is more than a credit card reader, and sadly, the headphone jack is ancient history. The company itself is now part of parent organization called Block, which is made up of a very interesting mix of financial services like Afterpay, Cash App, and, yes, the streaming music service Tidal. So Willem and I really got into where Square is headed next with AI and automation, why he’s excited about crypto and Bitcoin specifically, and even what it means that the US is discontinuing the penny.
Links:
- Square’s public roadmap | Square
- Jack Dorsey is reorganizing the entirety of Block | Fortune
- How Block turned Square into a financial services giant | Fast Company
- Block to roll out bitcoin payments on Square | Square
- Square buys $170 million worth of bitcoin | CNBC
- Square, Jack Dorsey’s payments company, changes its name to Block | NYT
- The penny dies at 232 | NYT
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Credits:
Decoder is a production of The Verge and part of the Vox Media Podcast Network.
Decoder is produced by Kate Cox and Nick Statt and edited by Ursa Wright. Our editorial director is Kevin McShane.
The Decoder music is by Breakmaster Cylinder.
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Questions people ask
- What is Square's parent company?
- Square is part of a parent organization called Block, which includes financial services like Afterpay and Cash App, and the streaming music service Tidal.
- What did Square used to be known for?
- Square was known for its small magnetic reader that plugged into the iPhone's headphone jack, enabling small businesses to accept credit cards.
Page generated Oct 19, 2026. Summaries are Subvolts' own; the audio, artwork and notes belong to The Verge.