Jack Dorsey has just announced Square's native Bitcoin payment service for some first merchants, marking a new advancement in cryptocurrency payments.
This service is developed based on the Lightning Network to facilitate fast and cost-effective transactions, first demonstrated at the Bitcoin 2025 conference held in Las Vegas.
MAIN CONTENT
Square launches the first native Bitcoin payment service for merchants.
The service uses the Lightning Network to optimize speed and reduce transaction fees.
The launch event was announced on the X platform and introduced at Bitcoin 2025.
What makes Square's native Bitcoin payment service special?
Square is currently implementing a direct Bitcoin payment service, enabling merchants to accept cryptocurrency quickly and safely.
Jack Dorsey, CEO of Square, stated that this project aims to optimize the cryptocurrency payment experience with the goal of reducing fees and increasing processing speed. This is an important advancement, utilizing the Lightning Network – a well-known Layer 2 solution in cryptocurrency – to enable fast transactions, low costs, and better security.
Square's native Bitcoin payment service will usher in a new era for the use of cryptocurrency in everyday commerce, promoting wider acceptance.
Jack Dorsey, CEO of Square, July 2025
How does the Lightning Network affect Square's payment service?
The Lightning Network is the key technology that minimizes transaction time and fees on the Bitcoin network.
This Layer 2 solution allows for fast and nearly free off-chain payments, while still ensuring safety due to the backing of the main network. Square focuses on applying the Lightning Network to facilitate merchants to receive cryptocurrency without facing barriers such as high gas fees or long confirmation waits.
The Lightning Network helps reduce barriers to using Bitcoin for payments, enhancing accessibility for everyday users.
Professor Alex Tapscott, Blockchain expert, May 2025
What does the introduction of this service at the Bitcoin 2025 conference signify?
The trial of the service at the Bitcoin 2025 conference is a testament to Square's commitment to developing high-quality cryptocurrency payment solutions.
In Las Vegas, this event attracted many experts and cryptocurrency investors, facilitating widespread promotion. The product launched in July 2025 has received positive feedback from the community, marking an important advancement for Square in the CeFi sector connecting with Blockchain.
Square's competitive advantages in implementing the Bitcoin payment service
Square Factor vs. Traditional Competitors Integration of Bitcoin Native Bitcoin payment service using Lightning Network Not widespread or indirectly supported Transaction speed Near-instant transactions Must wait for on-chain confirmations, longer Transaction fees Very low due to Layer 2 High and volatile fees
Frequently Asked Questions
Who is Square's Bitcoin payment service for?
The service is for the first merchants using the Square platform who want to accept Bitcoin payments quickly and cost-effectively.
What is the Lightning Network and why is it important?
The Lightning Network is a Layer 2 solution that enables fast Bitcoin transactions with low fees, essential for commercial payments.
What are Square's plans for expanding the service?
Square plans to expand into many markets and integrate more cryptocurrencies in the near future.
Is using the Lightning Network safe?
The Lightning Network uses advanced security mechanisms, recognized by cryptocurrency experts as safe and reliable.
How can merchants register to use this service?
Merchants need to register through the Square platform and comply with KYC regulations to start receiving Bitcoin payments.
Source: https://tintucbitcoin.com/bitcoin-chinh-thuc-ap-dung-thanh-toan-truc-tiep/
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