Block to Introduce Bitcoin Payments in Its Square App

Block, founded by Jack Dorsey, has announced plans to implement Bitcoin payments in its Square app by 2026. Once implemented, merchants will be able to store proceeds in Bitcoin or automatically convert them to fiat in real time.

The payment infrastructure will be launched via Square terminals and the Lightning Network protocol. The rollout will begin in the second half of 2025, with completion and full customer adoption planned for January next year, subject to regulatory approvals.

The official announcement was made at the Bitcoin conference in Las Vegas. The new functionality is based on Square's existing tool called Bitcoin Conversions, which allows marketplaces to automatically exchange received funds for bitcoins. For users, payment will be made by scanning a QR code. At the same time, all the technical part of the interaction will be provided by Square, and the speed of transactions will be made possible by the Lightning Network, which guarantees almost instant settlements.

As Miles Suter, Block's head of bitcoin products, noted, "This development provides merchants with more economic freedom and choice when accepting payments." The company is also working to improve the privacy and security of the Bitkey hardware wallet, introducing new mechanisms that will improve usability without the need for seed phrases.

Earlier, Block CEO Jack Dorsey expressed support for the launch of bitcoin payments in the Signal messenger.