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]
Bitcoin has long been lumped in with precious metals as a hedge against a weakening…
TL;DR On-chain records in the supplied pack point to a trader opening high-leverage short exposure…
TL;DR Ripple CEO Brad Garlinghouse criticized Michael Saylor’s Bitcoin accumulation model, according to reports from…
TL;DR Ripple CEO Brad Garlinghouse criticized Michael Saylor’s Bitcoin accumulation model, according to reports from…
TL;DR The supplied setup highlights resistance near the $61,000 area and support/liquidation interest around $58,200.Bitcoin…
TL;DR Mysten Labs’ Hashi framework aims to bring native Bitcoin collateral into Sui DeFi without…