Block Inc. to Launch Bitcoin Payments on Square
Estimated Reading Time: 3 minutes
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
Bitcoin payments are set to become more mainstream as Block Inc., the financial services company led by Jack Dorsey, prepares to roll out BTC support on Square.
At the same time, U.S. fast food chain Stake n’ Shake has reported major savings since adopting Bitcoin. These updates as it stands, signal a growing interest in BTC for real-world payments, with benefits for both businesses and customers.
Square to Roll Out Bitcoin Payments via Lightning Network
Block Inc., in a conference in Las Vegas on May 27 has announced that its payment platform, Square, will soon allow traders to accept Bitcoin payments through its new hardware. However, this announcement came with a demonstration from the company, showing how customers can pay by simply scanning a QR code under the Lightning Network system.
As it stands, the rollout of this project is planned to begin in the second half of 2025, with full availability in 2026, depending on regulatory approval. However, merchants will have the option to either hold the received BTC or convert it into local currency automatically. This builds on Square’s existing tool that lets merchants convert part of their earnings into Bitcoin.
Block’s BTC Product Lead, Miles Suter, said the move is meant to give sellers more freedom on payment system acceptance while ensuring a smooth experience for buyers.
Stake n’ Shake Cuts Fees in Half with BTC Payments
While Square prepares its launch, Stake n’ Shake has already gone live with Bitcoin payments. The fast food chain announced on May 9 that all its locations worldwide would start accepting Bitcoin from May 16. Speaking at the Bitcoin 2025 event, Chief Operating Officer Dan Edwards shared that the company has cut its payment processing fees by 50% since making the switch.
According to Edwards, Bitcoin payments are not only faster than credit card transactions but also cheaper. He explained that accepting Bitcoin benefits the business and its customers by reducing costs and offering a better payment experience.
To this end, Block Inc. and Stake n’ Shake actions show that Bitcoin can offer real value in business. However, with faster transactions and lower fees, BTC is becoming a powerful payment method that helps businesses and empowers consumers.
In order to place winning trades with us via Bybit, you can open an account here.
