The platform begins onboarding merchants for bitcoin payments via the Lightning Network.
Square, the payments platform founded by Jack Dorsey, has launched the integration process that will allow merchants to accept bitcoin payments through their existing point-of-sale terminals.
Merchants will now be able to process instant bitcoin transactions thanks to the Lightning Network, using the same technology they’re already familiar with—without the need for additional hardware or significant changes to their operations. Over four million merchants will have the option to receive bitcoin directly or automatically convert it into dollars at the time of the transaction.
Currently, Square’s bitcoin payment rollout is in a limited phase, with full service expansion expected by 2026.
Founded by Jack Dorsey in 2009, Block—the financial technology company that owns Square and Bitkey—will join the S&P 500 index on July 23.
