Block to Launch Bitcoin Payments on Square, Debut Set for Bitcoin 2025 Conference
Block, Inc. announced plans to launch Bitcoin payment support on its Square platform, beginning with a demonstration at the Bitcoin 2025 conference in Las Vegas this week. The rollout, expected to begin in the latter half of 2025, will eventually allow eligible Square merchants to accept Bitcoin through Square’s Point of Sale system, pending regulatory approval. The feature will leverage the Lightning Network to enable low-cost, near-instant transactions. Attendees at the Bitcoin 2025 event, running from May 27 to 29, can preview the new functionality at the BTC Inc. merchandise store. Integration Aimed at Expanding Payment Options The Bitcoin payment capability will be natively integrated into Square’s existing hardware, allowing merchants to accept payments by having customers scan a QR code at checkout. The system will handle back-end processes, including currency conversion and transaction confirmation. The move builds on Square’s existing Bitcoin-related offerings, including the 2024 introduction of Bitcoin Conversions, a tool allowing merchants to automatically convert a portion of their daily sales into Bitcoin. Together, the tools represent Square’s broader effort to integrate cryptocurrency into its payment ecosystem. Expanded Bitcoin Ecosystem Includes Wallets and Mining Tools In addition to Square’s new payment feature, Block is also expanding its Bitcoin-related services through other subsidiaries. Bitkey, a self-custody wallet launched in March 2024, will introduce new privacy and security tools in May to simplify user access and recovery. Notably, the wallet eliminates traditional seed phrases and offers an inheritance feature for fund recovery. Block is also developing Bitcoin mining hardware and software under the Proto brand. The products are intended to support decentralization by offering tools that allow a broader range of participants to engage in mining activities. Block’s portfolio also includes Cash App’s Bitcoin trading features and Spiral, an initiative funding open-source Bitcoin projects. Looking Ahead to 2026 Rollout The full release of Bitcoin payments across Square is scheduled for 2026, subject to regulatory clearance. Block did not specify which jurisdictions may initially qualify but indicated that expansion will depend on local compliance. The announcement positions Block to further integrate digital currency into its business tools, potentially altering how small businesses process and manage transactions. The company stated that the updates are part of its long-term strategy to support decentralized financial tools.