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Block, Inc., the company founded by Jack Dorsey, has announced the introduction of Bitcoin payments for merchants using Square. This highly anticipated feature was unveiled at the Bitcoin 2025 conference in Las Vegas on May 27, where it was showcased at the BTC Inc. merchandise store.

Bitcoin Payments Coming to Square Merchants

The rollout of Bitcoin payments is scheduled to begin in the second half of 2025, with full availability planned for 2026. However, implementation will depend on obtaining necessary regulatory approvals. This feature allows merchants using Square hardware to accept Bitcoin payments via the Lightning Network, Bitcoin’s layer-2 protocol designed to enable faster and more cost-effective transactions.

How Bitcoin Payments Will Work

Customers can make payments by scanning a QR code, while Square’s backend handles real-time exchange rate calculations and transaction confirmations. This process ensures near-instant settlement for merchants. Sellers will have the flexibility to either receive Bitcoin directly or convert it into fiat currency automatically at the point of sale.

This update builds upon Square’s previous Bitcoin Conversion tool, which was launched in 2024. The tool enabled merchants to allocate a portion of their daily sales to Bitcoin seamlessly, eliminating the need for manual intervention.

Square’s Expanding Reach

As of April 2025, Square serves approximately 4 million merchants, making it the leading U.S. merchant acquirer in terms of the number of sellers. This new feature reinforces Square’s commitment to empowering businesses with innovative payment solutions.

A Step Toward Bitcoin’s Original Vision

Miles Suter, Bitcoin Product Lead at Block, emphasized the significance of this development in advancing Bitcoin’s original purpose as a peer-to-peer payment system. He stated:

“Rolling out a native bitcoin experience to millions of sellers brings us one step closer to that goal.”

Suter added that the feature aims to provide faster payments and greater revenue control for small businesses, aligning with Block’s vision of an open, decentralized, and low-cost financial system.

Block’s Broader Bitcoin Strategy

The introduction of Bitcoin payments on Square is part of Block’s larger strategy to integrate Bitcoin into everyday financial activities. This initiative complements other Bitcoin-focused projects by Block, including its self-custody wallet Bitkey, decentralized mining venture Proto, open-source development arm Spiral, and Cash App’s role in advancing retail Bitcoin adoption.

Jack Dorsey’s Perspective

In earlier remarks, CEO Jack Dorsey expressed concerns about Bitcoin’s relevance, stating that the cryptocurrency could risk becoming irrelevant if it failed to transition from being a store of value to a functional payment method. He confirmed that the company was actively working on enabling Bitcoin payments through Square and Bitkey.

Challenges Faced by Block

The launch of Bitcoin payments comes during a challenging period for Block. In early 2024, the company laid off approximately 1,000 employees, followed by another round of job cuts in March, affecting 931 positions. These measures were taken after weaker-than-expected earnings for Q4 2023.

Despite these hurdles, the introduction of Bitcoin payments demonstrates Block’s ongoing commitment to innovation and its focus on empowering merchants with cutting-edge financial tools.

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