Jack Dorsey’s financial services juggernaut, Block, Inc., is gearing up to usher Bitcoin payments into the mainstream through its payments arm, Square. This strategic maneuver, unveiled at the Bitcoin 2025 conference in Las Vegas on May 27, promises a transformative integration of cryptocurrency into everyday transactions, with initial rollouts slated for the latter half of 2025 and a full-scale launch anticipated by 2026.
Bitcoin Payments: A Game-Changing Step
Block’s strategy hinges on the Lightning Network, a sophisticated layer-2 scaling solution designed to turbocharge Bitcoin’s transaction speeds while slashing costs. Square’s existing hardware will facilitate these crypto payments, allowing merchants to either retain Bitcoin or convert it into fiat currency instantaneously. “This is about economic empowerment for merchants who like to have options when it comes to accepting payments,” remarked Miles Suter, Block’s Bitcoin Product Lead, highlighting the initiative’s potential to revolutionize the retail landscape. This follows a pattern of institutional adoption, which we detailed in our analysis of Visa and Baanx’s launch of USDC stablecoin payment cards.
For consumers, the process is refreshingly straightforward: a simple scan of a QR code ensures swift, seamless transactions. Behind the scenes, Square deftly manages technical complexities, leveraging Lightning’s near-instant settlement capabilities to ensure smooth operations. This innovation builds on Square’s existing Bitcoin Conversions feature, which has already laid the groundwork for crypto integration by enabling merchants to convert sales into Bitcoin.
Industry Impact and Merchant Adoption
The implications of Block’s move are already reverberating across the industry, with notable players such as the American fast-food chain Stake n’ Shake jumping on the Bitcoin bandwagon. Speaking at the conference, Dan Edwards, the firm’s operating chief, extolled the virtues of Bitcoin payments, citing a significant reduction in processing fees—down by half compared to traditional credit card transactions. “Our experience so far with Bitcoin has been that it is faster than credit cards,” Edwards emphasized. For Stake n’ Shake, the switch to Bitcoin is a win-win scenario, benefiting both the company and its customers while bolstering the Bitcoin community.
This transition aligns with the company’s broader vision of offering consumers greater flexibility and control over their transactions. Stake n’ Shake’s decision to accept Bitcoin at all its global locations from May 16 underscores the growing acceptance and mainstream appeal of cryptocurrency as a viable payment method. As explored in our recent coverage of Mesh adding Apple Pay to let shoppers spend crypto, the integration of crypto into everyday payment systems is becoming increasingly common.
Navigating the Regulatory Landscape
Despite the optimism, Block’s ambitious plan is not devoid of challenges. The rollout is contingent on navigating a labyrinth of regulatory approvals, a process that could influence the timeline and scope of the launch. This regulatory dance underscores the delicate balance companies must strike between innovation and compliance in the ever-evolving crypto landscape.
Block’s initiative also comes at a time when privacy and security are top-of-mind for crypto users. To this end, the company is enhancing its self-custody BTC wallet, Bitkey, with new features aimed at making self-custody more user-friendly. These enhancements, launched earlier this month, eliminate the need for traditional seed phrases, streamlining the user experience while bolstering security—a move that could further accelerate crypto adoption.
Looking Ahead: Opportunities and Challenges
As Block prepares to roll out Bitcoin payments, the broader market is watching keenly. The integration of crypto payments into Square’s ecosystem represents a significant leap forward for Bitcoin’s utility in everyday commerce. However, it also raises questions about scalability and market readiness. Can Bitcoin handle a potential surge in transaction volume? Will consumers embrace crypto payments en masse?
While the future remains uncertain, one thing is clear: Block’s initiative could catalyze a new era of digital transactions, propelling Bitcoin from a niche asset to a mainstream financial tool. As the world inches closer to 2026, the crypto community—and indeed the world at large—will be watching closely, eager to see how this ambitious rollout unfolds.
Source
This article is based on: Jack Dorsey’s Block to bring Bitcoin payments to Square by 2026
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
