The report of Square's planned offering comes as the public markets have been rocked by volatility, amid signs of a slowdown in the Chinese economy and other macroeconomic concerns.
Square also appears to be moving forward even as founder and CEO Jack Dorsey is also serving double-duty as the interim chief executive at social network Twitter, another company he co-founded. Twitter's permanent CEO search is now in its fourth month, though many investors expect a decision to be made soon.
According to the anonymous insiders that Bloomberg talked to, that IPO is planned for the fourth quarter of this year, which starts on October 1st.
Not even Square's IPO advisors at Goldman Sachs know if Dorsey is jumping ship to become the full-time CEO of Twitter, casting the shadow of doubt over its plans to enter the public markets, per a previous report.
But according to Wednesday's Bloomberg report, Dorsey has been reassuring key employees and investors that he will remain CEO at Square.
The company has been planning its public offering since at least 2013, but it's been long delayed while Square searches for the perfect moment for a market debut.
The IPO market often slows down after Thanksgiving and through the new year, which means that Square's offering could potentially occur in the next couple of months.
Square declined to comment for this story.