Jack Dorsey's financial services company, Block, Inc., is set to launch Bitcoin payments on Square, its payment processing division. The rollout will commence later this year, with a full launch planned for 2026. The announcement was made at the Bitcoin 2025 conference in Las Vegas on May 27, where Block showcased the feature at the BTC Inc. store. Merchants will have the option to accept Bitcoin payments through existing Square hardware using the Lightning Network, a faster and more cost-effective layer-2 scaling network for Bitcoin. The company aims to start the rollout in the second half of 2025, reaching all eligible Square sellers by 2026, pending regulatory approvals. This initiative expands on Square's existing Bitcoin Conversions feature, allowing merchants to convert sales to BTC automatically. The move is geared towards empowering merchants economically by providing payment options. Additionally, Block is enhancing privacy and security features for its self-custody BTC wallet, Bitkey, making self-custody more accessible without traditional seed phrases. Read more AI-generated news on: https://app.chaingpt.org/news

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