Jack Dorsey’s Block to bring Bitcoin payments to Square by 2026

Block, Inc., Jack Dorsey’s financial services company, is integrating Bitcoin payments into its Square payment processing system. The rollout, announced at the Bitcoin 2025 conference, will begin later in 2025 and conclude by 2026, pending regulatory approvals. Merchants will utilize existing Square hardware to accept Bitcoin payments via the Lightning Network, facilitating faster, cheaper transactions. They can choose to retain Bitcoin or automatically convert it to fiat currency in real-time. This builds upon Square’s existing Bitcoin conversion feature, which automatically converts sales to BTC. For consumers, payment is straightforward: a QR code scan handles the transaction, with Square managing the technical aspects and Lightning Network ensuring near-instant settlement.

Block’s Bitcoin Product Lead, Miles Suter, emphasized the initiative’s aim to empower merchants by providing payment flexibility. Furthermore, Block is enhancing its Bitkey self-custody Bitcoin wallet, introduced in late 2023, with new privacy and security features to improve accessibility beyond traditional seed phrases.

Stake n’ Shake, an American fast-food chain, reported significant cost savings by adopting Bitcoin payments. Dan Edwards, the company’s operating chief, revealed a 50% reduction in payment processing fees compared to credit card transactions, attributing this to Bitcoin’s speed and efficiency. This translates into benefits for customers, the merchant, and the Bitcoin community as a whole. Stake n’ Shake began accepting Bitcoin at all global locations on May 16, 2025, following an announcement on May 9. The company’s CEO also highlighted the option to pay for franchises using Bitcoin. These developments signify growing Bitcoin adoption within the retail and fast-food sectors, illustrating the potential cost savings and improved transaction efficiency offered by the cryptocurrency.