Block2026-07-02 04:20:14Block Revamps Bitcoin Ecosystem With Bitkey Wallet, Cash App Features, and Proof of ReservesBlock (NYSE: XYZ) unveiled a series of bitcoin-focused products and services, including the updated Bitkey hardware wallet with an integrated touchscreen, new bitcoin accumulation tools in Cash App (peer-to-peer conversion, 5% Bitcoin Back rewards, higher withdrawal limits up to $10,000/day and $25,000/week, fee-free purchases above $2,000, and direct deposit in BTC), a Proof of Reserves system using on-chain signatures, and a planned Square tap-to-pay experience for bitcoin payments via the Lightning Network (zero processing fees through 2026). Bitkey retains a 2-of-3 multisig model without seed phrases and includes inheritance and privacy features. The updates strengthen Block's position across custody, payments, and financial infrastructure.530
Block2026-07-02 04:00:14Block Revamps Bitcoin Ecosystem With Bitkey Wallet, Cash App Features, and Proof of ReservesBlock (NYSE: XYZ) rolled out a wave of bitcoin-focused products and features aimed at strengthening custody, payments, and financial infrastructure. Updates include a new Bitkey hardware wallet with a built-in screen (2-of-3 multisig, no seed phrases, inheritance support), Cash App enhancements such as automatic BTC conversion of peer-to-peer payments, a 5% Bitcoin Back rewards program, increased withdrawal limits ($10k/day, $25k/week), and zero fees on purchases above $2,000. Block also unveiled a Proof of Reserves system covering corporate and customer holdings, using on-chain signatures for public verification. Additionally, Square plans to demonstrate NFC tap-to-pay for bitcoin via Lightning Network at Bitcoin Las Vegas 2026, with zero processing fees through 2026.330
