instant and low-cost transactions for millions of global merchants.
Merchants using Square terminals can now hold bitcoin or auto-convert it to fiat currency instantly at the point of sale.
Block expands its bitcoin ecosystem with new merchant tools, alongside Bitkey wallet upgrades and Proto mining solutions to increase global access.
Bitcoin payments are now coming to Square terminals officially, as announced by Block, Inc. The step brings a smooth method for businesses to accept bitcoin payments, from Bitcoin 2025 in Las Vegas.
Bitcoin Payments Debut at Bitcoin 2025
Block, Inc. (NYSE: XYZ), the parent company of Square, announced it will begin offering bitcoin payments through Square’s point-of-sale systems. The feature is being introduced at Bitcoin 2025, held in Las Vegas from May 27 to 29. Attendees at the event can experience the system firsthand at the BTC Inc. merchandise store.
Bitcoin payment acceptance for Square is facilitated by the Lightning Network. The upgrade enables the settlement of bitcoin transactions at virtually zero cost and near-instantly. Through the system, customers can pay by scanning a QR code, with the system automatically applying real-time exchange rates and update confirmations.
The initial launch will be followed by a broader rollout later this year, expanding gradually to all eligible sellers by 2026, pending regulatory approvals.
Jack Dorsey Confirms Merchant Flexibility
Jack Dorsey, co-founder of Block and former Twitter CEO, confirmed the announcement via Twitter. He shared that merchants will have the choice to either hold bitcoin or convert it to fiat currency in real time.
Dorsey tweeted, “Spend your bitcoin at @Square terminals. Merchant can choose to hold the bitcoin or auto-convert to fiat in real-time.” He also added that the system is being tested live at the conference and will reach more sellers in the coming months.
https://twitter.com/jack/status/1927399579613286600
The feature expands upon Square’s 2024 Bitcoin Conversions tool, which allowed merchants to convert daily sales into bitcoin. The company says the new Bitcoin For Businesses offering aims to create a complete native experience for both customers and sellers.
Block’s Strategy for Bitcoin Integration
Miles Suter, Bitcoin Product Lead at Block, stated the company’s goal is to bring bitcoin into everyday commerce. He emphasized that giving businesses more control over how they receive payments supports broader financial freedom and efficiency.
Square's bitcoin payments are purpose-built to integrate with Block's existing bitcoin infrastructure. They include Cash App for purchasing and sending bitcoin, Spiral for open-source development, and Proto for bitcoin mining infrastructure.
Suter added, “When a coffee shop or retail store can accept bitcoin through Square, small businesses get paid faster and keep more of their revenue.” His statement aligns with Block’s broader vision to enable open, decentralized payment systems for businesses worldwide.
Bitkey and Proto Strengthen Block’s Ecosystem
Block further grows its bitcoin ecosystem with products such as Bitkey and Proto. Bitkey, which launched in March 2024, is a self-custody bitcoin wallet that enhances privacy and security for users. Users will receive enhanced control and recovery capabilities with new additions in May.
Bitkey removes the need for seed phrases and includes a multi-signature system to protect user funds. It is also the only wallet offering inheritance recovery, enabling users to pass on access securely.
Block is also working on Proto, a line of bitcoin mining products and services. Proto aims to decentralize bitcoin mining by increasing access to tools for individuals and developers worldwide. This effort is intended to support broader use and network strength.
As Square’s bitcoin payments roll out later this year, more businesses will have the opportunity to accept digital currency with ease and efficiency.
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