Block Inc (NYSE:SQ) announced that it has introduced a pilot program for real-time Bitcoin payments through Square at the Bitcoin 2025 conference in Las Vegas.
The program allows attendees to purchase merchandise such as T-shirts, hoodies, and hats at the BTC Inc. pop-up shop using Bitcoin via QR code payments.
The pilot utilizes the Lightning Network, an off-chain solution designed to enable faster and lower-cost Bitcoin transactions.
Square’s Point of Sale app facilitates these payments through its hardware, with real-time exchange rates and transaction confirmations handled automatically by Square's backend systems.
The company plans to begin rolling out Bitcoin payments to eligible Square sellers in the second half of 2025, with broader availability expected in 2026, pending regulatory approvals.
“Block has long been a champion of bitcoin, focused on making it more accessible and usable in our everyday lives," Block’s Bitcoin product lead Miles Suter said in a statement.
“Rolling out a native Bitcoin experience to millions of sellers brings us one step closer to that goal. We believe in an open, decentralized, fair, fast, and low-cost money system for everyone, and that’s exactly what we want to bring to Square sellers.”
Shares of Block traded higher following the announcement, up 5.9% at about $62 in the early afternoon on Tuesday.