Block, Inc. to Integrate Bitcoin Payments in Square
In a significant move for the crypto-payment landscape, Block, Inc., the fintech company led by Jack Dorsey, has revealed plans to enable Bitcoin payments within its payments processing service, Square. This initiative was introduced at the Bitcoin 2025 conference in Las Vegas on May 27, where Block showcased the new feature at the BTC Inc. merchandise outlet. The integration will commence in 2025, aiming for a complete rollout by 2026, depending on receiving the necessary regulatory approvals.
Technical Details and Merchant Benefits
Merchants using Square’s existing hardware will be equipped to accept Bitcoin through the Lightning Network, a second-layer solution designed to provide quicker transactions with lower fees. According to Dorsey,
“Merchants can choose to hold the Bitcoin or instantly convert it to fiat currency during the transaction.”
Payment for consumers will be streamlined to simply scanning a QR code, while the technical complexities are managed in the background, allowing for rapid settlement facilitated by the Lightning Network.
Empowering Merchants and Enhancing Digital Tools
Miles Suter, the Bitcoin Product Lead at Block, emphasized that this initiative aims to provide economic empowerment to merchants by offering diverse options for transaction processing. Adding to their Bitcoin offerings, in May, Block will enhance its Bitkey wallet, introduced in late 2023, with upgraded privacy and security features that simplify self-custody without relying on traditional seed phrases.
Adoption of Bitcoin in Retail
Furthermore, the fast food chain Stake n’ Shake has been exploring the benefits of cryptocurrency integration as shared by their Chief Operating Officer, Dan Edwards, at the same conference. He reported that by adopting Bitcoin as a payment option, the restaurant has halved its payment processing fees, stating:
“Our experiences with Bitcoin show it’s quicker than credit card transactions, leading to significant savings for us and better deals for customers.”
Stake n’ Shake confirmed on May 9 that beginning May 16, all its locations worldwide would accept Bitcoin payments, reflecting a growing trend among businesses to embrace cryptocurrency.
