What happened?
Jack Dorsey’s digital payments firm, Block, announced plans to integrate Bitcoin payments directly onto its Square platform by 2026 using the Lightning Network. The feature was piloted at the Bitcoin Conference 2025 in Las Vegas, where attendees could use Bitcoin for real-time purchases. This marks a significant step in Block’s goal to make Bitcoin an everyday currency.
Who does this affect?
The rollout will impact both merchants and consumers who use Square for transactions, allowing them to transact in Bitcoin. Merchants will have the option to hold Bitcoin or automatically convert it to fiat currency. This could attract businesses interested in accepting cryptocurrency and tech-savvy customers eager to spend it.
Why does this matter?
This move is important for the market as it signifies a major step towards mainstream cryptocurrency adoption, potentially increasing Bitcoin’s utility and value. Block’s initiative also coincides with an increase in Block Inc.’s shares by 5.81%, showing positive market reception. If successful, it could pave the way for wider acceptance of cryptocurrency payments across various platforms.