Bitkey Archives

Block, Inc., the financial firm founded by Jack Dorsey, is preparing to bring Bitcoin payments to its Square platform. The company is planning to start the rollout later in 2025 and aims for full availability by 2026. The announcement came during a live demo at the Bitcoin 2025 conference in Las Vegas. Good to know Square will use the Lightning Network to enable Bitcoin payments. Merchants can choose to keep Bitcoin or convert it to fiat instantly. Block will also update its Bitkey wallet with easier self-custody tools. Block confirmed that Square sellers will soon be able to accept Bitcoin directly through existing Square hardware. The payment flow will rely on the Lightning Network, which speeds up transactions and reduces fees compared to traditional Bitcoin transfers. Customers can make a payment by scanning a QR code, and sellers will have the flexibility to either hold the Bitcoin or instantly convert it into fiat currency. Jack Dorsey shared the update in a post on X, highlighting the flexibility offered to merchants. The pilot phase for Bitcoin payments is set to begin in the second half of 2025, with a complete launch across all eligible Square sellers planned for 2026. However, Block noted that the broader availability will depend on receiving the necessary regulatory approvals. This initiative follows Square’s earlier move to allow automatic Bitcoin conversions from merchant sales. By expanding on that idea, Block wants to offer more payment options and control to merchants. Focus on financial choice and privacy tools Miles Suter, who leads Bitcoin products at Block, said, “This is about economic empowerment for merchants who like to have options when it comes to accepting payments.” Block also announced a security update to its self-custody wallet Bitkey, which debuted in 2023. Starting in May, the company will roll out new privacy and security tools designed to make Bitcoin self-custody easier for users, especially those unfamiliar with traditional seed phrases. Bitkey aims to offer users more control while reducing the risk of loss tied to complex backup systems, making it easier for more people to hold their own Bitcoin securely. Two months ago, Dorsey had warned that Bitcoin risks becoming irrelevant should it not be used for payments.

Bitkey

Block Plans Bitcoin Payments on Square by 2026

Jack Dorsey Teases New Privacy Features For Bitkey Wallet

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