- Bitcoin payments now available on Square via Lightning Network.
- Facilitates quick and cheap merchant transactions.
- Rollout aims for full availability by 2026.
Block’s integration of Bitcoin payments with Square offers faster, cost-effective transactions, enhancing merchant payment options and aligning with Bitcoin’s peer-to-peer vision.
The integration of Bitcoin payments on Square leverages the Lightning Network for speeding up transactions. Block’s strategy highlights their engagement with Bitcoin. This was officially announced at Bitcoin 2025 in Las Vegas, drawing significant attention.
Key figures include Miles Suter, who leads the initiative, with Jack Dorsey’s well-known advocacy for Bitcoin. The integration will allow merchants globally to accept Bitcoin more efficiently. Miles Suter, Bitcoin Product Lead at Block, stated: “When a coffee shop or retail store can accept bitcoin through Square, small businesses get paid faster, and get to keep more of their revenue. This is about economic empowerment for merchants who like to have options when it comes to accepting payments.”
The immediate effects include enhanced payment speed for merchants, improved revenue retention, and broader adoption of cryptocurrency within retail settings. Regulatory approval remains a barrier but is anticipated.
Financially, this move may reduce transaction costs while promoting cryptocurrency commerce. Socially, it aligns with broadening cryptocurrency adoption, potentially impacting traditional payment systems.
Through historical precedents, Block’s new initiative could transform Bitcoin use in retail, marking a significant technological step. The Spiral’s Lightning Development Kit (LDK) advances this goal by simplifying Bitcoin integration.
