Block, the financial services company helmed by Jack Dorsey, is set to introduce Bitcoin payments on its popular Square payment processing platform.
The launch is scheduled to begin in late 2025, marking a significant step toward integrating cryptocurrency into mainstream commerce.
Sellers using Square will have the flexibility to either hold the Bitcoin they receive or automatically convert it to fiat currency in real-time.
This feature is designed to cater to the diverse needs of merchants, offering them greater control over their earnings amidst cryptocurrency market fluctuations. The technology powering this innovation is the Lightning Network, a layer-2 scaling solution for Bitcoin that enables fast, low-cost transactions.
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This move reflects Block’s ongoing commitment to advancing Bitcoin’s adoption, building on its existing ecosystem that includes Cash App and Bitkey. By leveraging the Lightning Network, Square aims to provide a seamless and efficient payment experience, potentially transforming how small businesses handle digital currencies.
The rollout, starting later this year, positions Square as a pioneer in bridging traditional payment systems with the growing world of cryptocurrency.
