Key Notes
- Square merchants can now accept and settle payments in Bitcoin or fiat with real-time conversion capabilities.
- Lightning Network integration eliminates payment delays and reduces transaction costs for global sellers.
- Block Inc stock climbed 1.74% following the Bitcoin payment feature announcement on November 10.
Square, the payments arm of Block Inc., has officially rolled out Bitcoin
BTC
$105 541
24h volatility:
1.1%
Market cap:
$2.11 T
Vol. 24h:
$72.57 B
transaction support for its global network of merchants, offering real-time conversions between BTC and fiat currencies.
Founder and long-term Bitcoin advocate Jack Dorsey confirmed the update with a post on X on Monday, noting that sellers can now execute live transactions across both Bitcoin and traditional payment rails. The move allows sellers on Square to receive BTC-to-BTC, BTC-to-fiat, fiat-to-BTC, or fiat-to-fiat payments.
The integration with the Lightning Network ensures that Bitcoin transactions settle nearly instantaneously, significantly reducing payment latency and processing costs. According to the details, Square’s Bitcoin lightning payments will also be compatible with bank-issued debit cards, credit cards, as well as crypto wallets.
Merchants will also be able to switch between settlement options to hold earnings in BTC or instantly convert them into US dollars or other fiat currencies.
Square parent company, Block (SQ) Stock price rose 1.74% to $66.56 per share at $39.8 billion market cap on Nov. 10 | Source: Nasdaq
At the time of the announcement, Block Inc. (NYSE: SQ) traded 1.74% higher at $66.56, valuing the company at approximately $39.8 billion. Notably, on Oct. 31, Square allocated $50 rewards to first 20,000 US sellers to enable its Bitcoin Conversations feature, in a move to drive crypto-focused social interactions among merchants.
Best Wallet Presale Surges to $17.2M as Institutions Embrace Crypto Payments
As Square moves to accelerate Bitcoin adoption in global payments, strategic investors are positioning for the next bull cycle and are eyeing early-stage projects like Best Wallet (BEST).
Best Wallet offers secure storage, staking rewards, and integrated multi-chain access, combining self-custody and passive income opportunities.
Best Wallet Presale
Best Wallet Presale has already raised $16.9 million. Early participants have less than 48 hours to secure BEST tokens at $0.027 via the official Best Wallet website before the next price tier unlocks.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.
Ibrahim Ajibade on LinkedIn
Source: https://www.coinspeaker.com/square-bitcoin-payments-lightning-network-global-rollout/
