Square2026-07-02 03:40:14Square Crosses 1 Million Bitcoin-Enabled Merchants: Block’s Vision for Bitcoin as Everyday Money with Lightning Network and Hardware WalletsBlock’s Square payment platform has reached approximately 1 million merchants enabled to accept Bitcoin payments, driven by an auto-enrollment feature launched March 30. At peak, a new business activates the feature every eight seconds, leveraging the Lightning Network for near-instant settlements. Miles Suter, Bitcoin Product Lead, emphasized at the Bitcoin Conference that Bitcoin must circulate, not just sit still. The company also introduced NFC-based tap-to-pay, zero processing fees through 2026, and integrated Bitcoin across Cash App with 5% Bitcoin Back rewards, daily withdrawal limits of $10,000, and weekly limits of $25,000. A new Bitkey hardware wallet with a touchscreen and 2-of-3 multisig security model simplifies self-custody. Block’s Q1 2026 proof-of-reserves report shows holdings of 28,355.05 BTC worth approximately $2.2 billion, underscoring its commitment to real-world Bitcoin adoption.330
Bitcoin payme2026-07-02 03:00:14Square Surpasses 1 Million Bitcoin Merchants via Lightning Network Auto-Enrollment, Paves Way for Everyday BTC UseBlock Inc.'s Square has crossed 1 million merchants enabled to accept Bitcoin payments following a March 30 auto-enrollment that peaked at one new merchant every eight seconds. Using the Lightning Network, settlements are near-instant and merchants receive USD by default, eliminating crypto volatility. At the Bitcoin 2026 conference, Block's Miles Suter stressed that Bitcoin must circulate as everyday money, unveiling NFC tap-to-pay with zero processing fees through 2026. Cash App users now get 5% Bitcoin Back, daily withdrawal limits of $10,000, and automatic P2P conversion. Block also introduced an updated Bitkey hardware wallet (2-of-3 multisig) and published a Q1 2026 proof-of-reserves report showing 28,355.05 BTC worth $2.2 billion.470
