Square launches Bitcoin payments for merchants via Lightning Network, enhancing transaction speed and reducing fees.
- Square activates Bitcoin payments for merchants using Lightning Network.
- This initiative is set to start in July 2025.
- The rollout will be regulated and demand-based.
Square, now Block, Inc., launches native Bitcoin payment support for merchants using its platform, leveraging the Lightning Network from July 2025.
The integration is a strategic step for Square, potentially transforming Bitcoin’s role in merchant transactions.
Square Embraces Lightning Network for Bitcoin Transactions
Square’s strategic move facilitates Bitcoin payments using the Lightning Network, enhancing transaction speed and fee reduction. The phased rollout starts with select merchants in July 2025.
Co-founder Jack Dorsey and Bitcoin Product Lead, Miles Suter, emphasize economic empowerment and flexibility for merchants in payments, reinforcing Square’s Bitcoin-friendly initiatives.
Projected Merchant Adoption and Global Impact
The move may boost Bitcoin’s transaction volume and utility, potentially elevating merchant adoption rates globally by leveraging its layered transaction capabilities.
Considerable market impact expected with even marginal uptake, increasing liquidity and throughput on the Lightning Network, while fostering merchant trust in Bitcoin payment systems.
Bitcoin Transactions Enhanced Through Lightning Network
Square follows Cash App’s footsteps, increasing Bitcoin exposure in retail. Unlike PayPal, Square’s integration uses Lightning Network, representing a direct Bitcoin engagement.
Experts predict that the Lightning Network’s seamless integration contributes positively, possibly enhancing cryptocurrency’s appeal as a mainstream payment solution.
Jack Dorsey, CEO, Block, Inc., stated, “Merchants can choose to hold the Bitcoin, or auto-convert it to fiat in real-time.”
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