Jack Dorsey’s Square (XYZ) has begun the rollout of bitcoin payments for merchants on its network.
Square began onboarding the first sellers, enabling them to accept Lightning Network-powered BTC payments from customers, Owen Jennings, executive officer at Square’s parent company Block (XYZ), posted on X on Tuesday.
Payments are settled in real-near time using Bitcoin layer-2 Lightning, with Square processing the exchange into fiat.
Square plans to make the service available to all merchants using its sales platform by next year.
The company piloted the system at the Bitcoin 2025 conference in Las Vegas in May, allowing attendees to make purchases in BTC by scanning a barcode.
Square regards Lightning as fundamental to its plans to accelerate bitcoin payments adoption, which has been hampered historically by slow speeds.
Lightning tackles this by creating micropayment channels that can process transaction away from the main Bitcoin blockchain.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
The Bitcoin’s behavior around US Federal Reserve announcements has become one of the most consistent…
Bitcoin Magazine Bitcoin Falls Below $90,000 As Vanguard Exec Struggles With Bitcoin Value The bitcoin…
Bitcoin Magazine Why Trump Should Pardon The Developers of Bitcoins Non Custodial Samourai Wallet On…
Crypto markets saw a modest lift after the US Federal Reserve made another move on…
Bitcoin Magazine Sangha Renewables Energizes 20 MW Bitcoin Mining Facility in West Texas Sangha Renewables…
Chipmaker Broadcom's 10% slide weighs on the market as Chicago Fed's Goolsbee signals more cuts…