Hassan Maishera
TL;DR
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Square has started rolling out Bitcoin payments for its merchants, targeting full availability by next year.
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Payments are settled in real-time using Bitcoin layer-2 Lightning.
Square’s Bitcoin Payments Now Available to Merchants
Jack Dorsey's Square announced earlier this week that they have begun the rollout of bitcoin payments for merchants on the Square network.
The payment platform is currently onboarding the first sellers, empowering them to accept Lightning Network-powered BTC payments from customers,
Payments on the network are settled in real-near time using Bitcoin layer-2 Lightning, with Square processing the exchange into fiat.
The company added that it intends to make the service available to all merchants using its sales platform by next year. Square piloted its payment system at the Bitcoin 2025 conference in Las Vegas two months ago, allowing attendees to make purchases using BTC by scanning a barcode.
Square leverages Lightning to accelerate Bitcoin payments on its network and boost adoption. Lightning is known for tackling Bitcoin’s slow speed by creating micropayment channels that can process transactions away from the main Bitcoin blockchain.
