At the Bitcoin 2025 conference, Block (XYZ, Financial) introduced a real-time Bitcoin payment system via its Square platform in Las Vegas. This pilot program allows attendees to purchase items using the Lightning Network, offering efficient and low-cost transactions. When customers scan a QR code to pay, Square processes currency conversion and transaction confirmation in real-time. This initiative marks a significant step in Block's strategy to make Bitcoin a "daily currency," with plans to expand globally.
Led by Miles Suter, a senior product manager at Block, the company aims to integrate Bitcoin deeply into its ecosystem. The Bitcoin payment function, part of an upgraded "Bitcoin Conversions" tool, is already used by over a thousand merchants, with participants' Bitcoin holdings growing by about 70% annually. Merchants can opt for real-time conversion to dollars to avoid volatility.
Block is developing a "Bitcoin for Business" suite for businesses to manage Bitcoin payments, exchanges, and self-custody. The company focuses on small to medium-sized businesses, aiming to make Bitcoin accessible to all, similar to its approach with Cash App. While specific data isn't disclosed, participating merchants reportedly profit by converting sales into Bitcoin.
