Dorsey’s Block to enable Bitcoin payments for nearly 4m Square merchants by 2026

by

Is Bitcoin the New Regency Romance? Find Out How Dorsey is Wooing 4 Million Merchants! 💰💔

It is with no small measure of excitement that Block, Inc. has proclaimed the advent of a most anticipated feature: the ability for merchants on Square to accept payments in Bitcoin. One can hardly contain their enthusiasm! 🎉

At the illustrious Bitcoin 2025 conference, held in the dazzling city of Las Vegas on the 27th of May, the company, founded by the illustrious Jack Dorsey, unveiled this remarkable innovation. The feature was paraded with great fanfare at the BTC Inc. merchandise store, as if it were the latest fashion from Bath. 🛍️

The rollout, dear reader, is expected to commence in the latter half of 2025, with full availability anticipated in 2026 for all eligible Square sellers, provided, of course, that the regulatory gods smile favorably upon them. 🙏

This splendid feature will permit merchants utilizing Square hardware to accept Bitcoin payments through the Lightning Network, a layer-2 protocol designed for swifter and less costly microtransactions. One can only imagine the delight of customers as they pay by merely scanning a QR code, while Square’s backend performs the intricate calculations of real-time exchange rates, ensuring near-instant settlement. It is as if the future has arrived, and it is quite charming! 📱✨

Merchants shall have the option to receive Bitcoin directly or, should they prefer, convert it into fiat currency automatically at the point of sale. This update builds upon Square’s earlier Bitcoin Conversion tool, introduced in 2024, which allowed merchants to allocate a portion of their daily sales to Bitcoin without the burden of manual intervention. How very modern! 🕰️

As of April 2025, Square reportedly serves nearly 4 million merchants, thus establishing itself as the leading U.S. merchant acquirer by number of sellers. Quite the achievement, I daresay! 🎩

According to the esteemed Miles Suter, Bitcoin Product Lead at Block, this new capability signifies a significant stride towards realizing Bitcoin’s original purpose as a peer-to-peer payment system. “Rolling out a native bitcoin experience to millions of sellers brings us one step closer to that goal,” he declared, with all the gravitas of a gentleman addressing the assembly. 🗣️

“We believe in an open, decentralized, fair, fast, and low-cost money system for everyone, and that’s precisely what we wish to bestow upon Square sellers,” he added, with a flourish that would make any romantic hero proud. 💖

The introduction of Bitcoin payments on Square represents a strategic extension of Block’s broader ambition to weave Bitcoin into the very fabric of everyday finance. This complements its self-custody wallet, Bitkey, its decentralized mining venture, Proto, the open-source development arm, Spiral, and Cash App’s burgeoning role in retail Bitcoin adoption. A veritable tapestry of innovation! 🧵

However, this launch comes on the heels of earlier remarks by the ever-visionary CEO Jack Dorsey, who in April cautioned that Bitcoin risked fading into obscurity if it did not transition from a mere store of value to a functional payment method. A rather dramatic sentiment, wouldn’t you agree? 🎭

At that time, Dorsey confirmed that the company was diligently working on enabling Bitcoin payments through Square and Bitkey. A noble endeavor, indeed!

Yet, one must not forget that the launch of Bitcoin payments on Square follows a rather tumultuous period for Block. In early 2024, the company laid off approximately 1,000 employees, and in March, it cut an additional 931 jobs following weaker-than-expected earnings for Q4 2023. Alas, the trials of modern business are not for the faint of heart! 😩

Read More

2025-05-28 09:35