"The company is also rolling out a tap-to-pay BTC feature using NFC hardware and the Lightning Network, eliminating QR codes and offering zero processing fees through 2026. The company's broader strategy centers on integrating bitcoin across its ecosystem. Cash App users can now automatically convert peer-to-peer payments into BTC, earn 5% Bitcoin Back rewards at Square merchants, and withdraw up to $10,000 per day and $25,000 per week."
Square has enabled Bitcoin payments for roughly one million merchants, driven by an auto-enrollment rollout that started March 30 for eligible U.S. sellers. At peak speed, a new business activated the feature every eight seconds. The Lightning Network powers near-instant settlement while merchants receive U.S. dollars by default, reducing currency risk. Customers can pay in Bitcoin via Lightning while the system converts in the background, and sellers can opt out if needed. Block also expanded everyday Bitcoin functionality, including tap-to-pay using NFC hardware with Lightning, removing QR codes and offering zero processing fees through 2026. Block’s ecosystem includes Cash App conversion to BTC, Bitcoin Back rewards, and increased withdrawal limits, alongside an updated Bitkey hardware wallet.
Read at Bitcoin Magazine
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