Block Inc. automatically activated BTC payments via Lightning Network for approximately one million US merchants starting March 30.
Block Inc. has surpassed the threshold of approximately one million merchants enabled to accept Bitcoin payments through its Square platform. The figure, cited by a Block team member, is the result of an automatic enrollment wave launched on March 30, when Square activated BTC payments by default for all eligible US sellers. At the peak of the rollout, a new business was activating the feature every eight seconds.
The system is powered by the Lightning Network, which enables near-instant settlements. Merchants automatically receive US dollars as their settlement currency, while the conversion from BTC happens in the background – customers pay in Bitcoin, merchants collect in USD, effectively eliminating currency risk. Sellers who do not wish to participate can still disable the feature.
At the Bitcoin Conference in Las Vegas, Block outlined a broader strategy to make bitcoin a daily payment tool, not just a long-term investment asset. Miles Suter, the company’s Bitcoin Product Lead, stated that BTC “needs to circulate, not just sit still,” emphasizing that the cryptocurrency loses its transformative value if it does not function as peer-to-peer money. During the presentation, Suter had cited a figure of over 800,000 merchants with active auto-enrollment, a number that was subsequently surpassed.
Block is also introducing a tap-to-pay in BTC feature based on NFC hardware and the Lightning Network, which eliminates the need for QR codes and offers zero processing fees through the end of 2026. On the Cash App front, users can now automatically convert peer-to-peer payments into BTC, earn 5% Bitcoin Back rewards at Square merchants, and withdraw up to $10,000 per day and $25,000 per week.
The company also unveiled an updated version of its Bitkey hardware wallet, featuring a touchscreen and a 2-of-3 multisig security model, designed to simplify self-custody. Alongside the product announcements, Block published its Q1 2026 proof-of-reserves report, showing reserves of 28,355.05 BTC with a total value of approximately $2.2 billion.
