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In a groundbreaking move, Square is testing real-time bitcoin payments at the BTC Inc. pop-up store located within The Venetian during Bitcoin 2025. This initiative allows attendees to use the Lightning Network to quickly purchase merchandise by scanning QR codes. Behind this development lies Block's strategic vision to integrate bitcoin into daily commerce and offer small businesses diverse payment options. By 2026, this feature could potentially be available to all eligible merchants worldwide, subject to regulatory approval. Miles Suter, Block’s Bitcoin Product Lead, describes the pilot as a pivotal step toward making bitcoin more accessible and practical for everyday use.
This week marks a significant milestone for digital currency adoption as Jack Dorsey's Block introduces its latest innovation in Las Vegas. Attendees at Bitcoin 2025 can now experience seamless crypto transactions through the Lightning Network, which facilitates off-chain settlements with lower fees and faster processing times compared to conventional methods. Customers simply scan a QR code at checkout, and Square manages the backend operations, including real-time exchange rate calculations and confirmations. According to Suter, who has been instrumental in shaping Block’s approach since joining in 2017, this advancement represents a natural progression of embedding bitcoin into the company's ecosystem.
Block anticipates rolling out bitcoin payment capabilities to select Square sellers later this year, aiming for full deployment by 2026 if regulations align favorably. This timing coincides with a period when bitcoin values are soaring due to its perception as "digital gold," emphasizing long-term value storage rather than frequent transactional utility. Meanwhile, legislative discussions surrounding stablecoins continue in Congress, while other fintech companies increasingly embrace tokenized currencies. In contrast, Block remains steadfastly committed to advancing decentralized, permissionless systems centered around bitcoin.
Suter highlights that skepticism initially greeted Cash App’s introduction of bitcoin trading features back in 2017 but underscores the importance of pioneering efforts. He explains, “Someone needs to lead the charge,” expressing confidence in Block’s unique position to drive progress within the industry. To support this mission, Block offers tools like the 'Bitcoin Conversions' option introduced last year, enabling merchants to automatically convert portions of their sales into bitcoin. Over 1,000 sellers have adopted this tool, witnessing an approximate 70% increase in their bitcoin holdings over the past year.
Merchants adopting direct bitcoin acceptance gain flexibility; they may choose immediate conversion to dollars or retain holdings using Block’s comprehensive suite of products designed specifically for business use cases. These resources empower merchants to manage conversions, purchases, sales, and withdrawals efficiently while ensuring no missed opportunities arise from lack of payment compatibility. Through these innovations, Block seeks not only to enhance accessibility for smaller enterprises but also to redefine how individuals interact with digital assets across various platforms.
As corporate strategies regarding bitcoin evolve, Block focuses on democratizing access for small and medium-sized businesses. Merchants involved in earlier pilots reportedly benefited financially from participating in bitcoin conversions. Beyond Square, Block continues expanding its influence via projects such as Bitkey wallets, Proto mining solutions, Spiral open-source contributions, and Cash App’s integrated trading capabilities—all aligned under the banner of promoting bitcoin as everyday currency. With such advancements underway, Block solidifies its role as a leader driving forward the future of internet-native finance.