Benzinga and Yahoo Finance LLC can earn commissions or income for certain projects through the following links.
Blocks are set to allow businesses to receive Bitcoin payments through their square sales terminals.
The new feature is built on its Bitcoin conversion feature, which was launched in 2024.
This is not the first time Block has introduced a feature that allows merchants to accept Bitcoin payments.
Jack Dorsey, Twitter co-founder and CEO of Block (NYSE:XYZ), said that if Bitcoin is not used in daily payments, it will fail. A month later, Bitcoin supporters put the money in his mouth.
Block Saidtuesday believes it allows businesses to get bitcoin payments through their square point-of-sale terminals.
The company said the feature is currently being displayed in Las Vegas Bitcoin 2025 at the BTC Inc. merchandise store. Block said the full promotion of the feature will begin in the second half of the year and complete all qualified merchants in 2026, but will be subject to relevant regulatory approvals.
Don't miss:
Brock said the new feature was built with its Bitcoin conversion feature, which was launched in 2024, allowing merchants to convert a portion of their sales into bitcoin.
Block said the feature utilizes the Lightning Network for near-installation settlement and will allow customers to make Bitcoin payments by simply scanning the QR code at checkout. Meanwhile, merchants will be able to choose whether to hold the received Bitcoin or convert it automatically into fiat currency in real time.
“Block has long been a supporter of Bitcoin, focusing on making it easier to access and available in our daily lives,” said Miles Suter, head of product at Block Bitcoin, in a company announcement. “The launch of a local Bitcoin experience to millions of sellers brings us closer to that goal.”
According to Suth, the feature will enable businesses to get payments faster and retain much of their revenue.
Trend: Newbie encryption? Successfully complete a brief education course and make your first qualified transaction with a reward of up to $400 On Coinbase.
This is not the first time Block has introduced a feature that allows merchants to accept Bitcoin payments. The company first offered its online sellers direct Bitcoin payments for the first time in 2014. "Zero buyers used it," Dorsey said last month.
He said entering the feature’s recent reintroduction, and he said he was not overly optimistic about the massive adoption.
"I don't think there will be much use this time. I hope I'm wrong," Dorsey said. "We're building something for people who *maybe* want to spend bitcoin, in a loop where one might actually not want to spend bitcoin because it's going up a lot."
Dorsey pointed out that for him, unlocking Bitcoin payments is a matter of principle.
"We will try again in principle and see what happens. I want Bitcoin to be the original currency of the internet," he said.
Dorsey’s obsession with Bitcoin payments stems from the title of the cryptocurrency white paper, which describes Bitcoin as a “peer-to-peer electronic cash system.” He also said that if Bitcoin is more than just a store of value, it will become irrelevant.
Read the next article: The essentials for all crypto enthusiasts: Sign up for a Gemini credit card now and win rewards on Bitcoin Ether or over 60 tokens on every purchase.
Image: shutterstock
Send to MSN: 0
This article Jack Dorsey's Block Tests Square Terminal Bitcoin Payments at Bitcoin 2025 plan initially appeared in H2 on Benzinga.com