Block Expands Bitcoin Payments to Millions of Merchants
- Block has launched Bitcoin payments for all its merchants globally via the Square Bitcoin platform.
- The feature was initially introduced in October and will offer no fees to sellers until 2027.
- Block’s integration allows merchants to accept Bitcoin at checkout with instant settlement via Bitcoin’s Lightning Network.
- Merchants can convert a portion of daily card sales into Bitcoin automatically.
- Block also offers a self-custody hardware wallet called BitKey and enables Bitcoin trading through Cash App.
Block, led by Jack Dorsey, has enabled Bitcoin payments for over four million global merchants using its Square platform, aiming to make cryptocurrency transactions as seamless as card payments while offering financial tools typically reserved for large corporations.
This initiative not only integrates Bitcoin into everyday commerce but also supports sellers in future-proofing their operations by providing financial flexibility without transaction fees until at least five years from now. (Source)
