The Bitcoin Product Lead of Block, Miles Suter, states that this is related to economic empowerment for merchants.
The firm further added that it is going to roll out new privacy and security features to its self-custody Bitcoin wallet Bitkey.
Block Inc. is planning to launch Bitcoin payments on Square, the payment processing arm of the firm. The rollout will start this year ahead of a full introduction in the next year. The firm publicized the plan at the Bitcoin 2025 conference in Las Vegas on May 27.
The firm also demonstrated the feature at the BTC Inc. merchandise store. Merchants can accept BTC payment via the current Square hardware using the Lightning Network. The Lightning Network is the faster and lower-cost layer-2 scaling network of Bitcoin.
The Chairman of Block Inc., Jack Dorsey, posted on X stating that Merchants can choose to hold the Bitcoin, or auto-convert it to fiat in real time. The firm also revealed that it anticipates rolling out after June
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