Jack Dorsey's financial services company Block, Inc. will launch a Bitcoin (BTC) payment feature on its payment processing division Square, with plans to promote it later this year and fully roll it out by 2026.
The company announced this plan at the Bitcoin 2025 conference held in Las Vegas on May 27, 2025, where Block showcased the feature at the BTC Inc. merchandise store.
Merchants will be able to accept Bitcoin payments using the faster and cheaper second-layer scaling network—Lightning Network—through existing Square hardware.
"Merchants can choose to hold Bitcoin or automatically convert it to fiat currency in real-time," Dorsey stated on the X platform.
The company expects to start promoting the feature in the second half of 2025, with plans to cover all eligible Square sellers by 2026, pending regulatory approval.
This move builds on Square's existing Bitcoin conversion feature, which allows merchants to automatically convert sales into BTC. For consumers, payment is as simple as scanning a QR code, with Square handling the technical details in the background, and the Lightning Network enabling near-instant settlement.
"This is about empowering merchants economically, giving them more choices when accepting payments," said Miles Suter, Block's head of Bitcoin products.
The company also added that starting in May, it will introduce new privacy and security features for its self-custody BTC wallet Bitkey, set to launch by the end of 2023, aimed at making self-custody easier to use without traditional seed phrases.
Meanwhile, Dan Edwards, the operations director of the American fast-food chain Stake n’ Shake, stated on stage at the Bitcoin 2025 conference that by adopting Bitcoin payments, the company has halved its payment processing fees.
STEAK ‘N SHAKE CEO SAYS PEOPLE CAN NOW “PAY FOR YOUR FRANCHISE USING #BITCOIN” WHAT A TIME TO BE ALIVE 🚀 pic.twitter.com/kTqHCazQDy
"So far, our experience with Bitcoin has been that it is faster than credit cards, and when customers choose to pay with Bitcoin instead of credit cards, we save about 50% on processing fees," Edwards said.
On May 9, Stake n’ Shake announced that it would begin accepting Bitcoin as a payment method at all restaurant locations worldwide starting May 16.
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Original: “Jack Dorsey's Block to Introduce Bitcoin (BTC) Payments for Square by 2026”
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