San Francisco, May 23 (IANS): Twitter CEO Jack Dorsey's mobile payment company - Square - is getting closer to launching its long-awaited crypto project and is ready to make its first hire.

Earlier in March, Dorsey announced his $32.7 billion worth company Square would hire three to four developers and a designer to work on the open-source Bitcoin ecosystem, CNN reported on Wednesday.

"We are close to making our first hire. So let's set some expectations... We are building open source projects that will make mass adoption not just possible but inevitable. Our goal isn't to make money, but to improve it," Square Crypto tweeted to its 24.2K followers.

Dorsey re-tweeted the post and captioned it: "Took some time but getting there."

Dorsey claims the Square Crypto initiative is not a commercial pursuit, but an attempt to give back to the Bitcoin community, the report said.

Exact details of the Square Crypto project have been closely guarded and remain unclear as of now.