Block Inc. to Launch Bitcoin Payments on Square by 2026 Stake n’ Shake Cuts Payment Fees by 50% with Bitcoin

Block, Inc., led by Jack Dorsey, has unveiled plans to introduce Bitcoin payments on its Square platform. This new feature, utilizing the Lightning Network, will allow merchants to accept Bitcoin payments through their existing Square hardware, enabling swift and cost-effective transactions. The rollout is set to commence in the latter half of 2025, with the aim of reaching all eligible Square sellers by 2026, contingent upon regulatory approvals.

The announcement was made at the Bitcoin 2025 conference in Las Vegas, where attendees had the opportunity to experience the payment system firsthand at the BTC Inc. merchandise store. This initiative is part of Block's broader strategy to make Bitcoin more accessible and practical for daily use. The company has a history of advocating for Bitcoin, offering a range of Bitcoin-related products and services, including Square’s Bitcoin Conversion feature, Cash App’s Bitcoin services, Bitkey’s self-custody wallet, Proto’s mining products, and Spiral’s open-source projects.

Miles Suter, Block's Bitcoin Product Lead, highlighted the company's dedication to enhancing Bitcoin accessibility. "Rolling out a native Bitcoin experience to millions of sellers brings us one step closer to that goal. When a coffee shop or retail store can accept Bitcoin through Square, small businesses get paid faster and get to keep more of their revenue," Suter stated. This integration of Bitcoin payments into Square represents a significant advancement for the company, which has been progressively expanding its Bitcoin offerings. By utilizing the Lightning Network, Block aims to deliver a smooth and efficient payment solution for merchants, thereby improving the overall user experience and fostering the adoption of Bitcoin in everyday transactions. This development reflects Block's commitment to innovation and its mission to promote the use of cryptocurrencies in the mainstream economy.

In addition to the Bitcoin payment feature, Block is enhancing the privacy and security of its self-custody BTC wallet, Bitkey. Starting in May, new features will be added to make self-custody more accessible without the need for traditional seed phrases. This move is designed to empower merchants with more options for accepting payments, aligning with Block's vision of economic empowerment through Bitcoin.

Meanwhile, Stake n’ Shake, an American fast food chain, has reported significant cost savings by adopting Bitcoin payments. Dan Edwards, the operating chief of Stake n’ Shake, revealed that the company has reduced its payment processing fees by half by accepting Bitcoin. Edwards noted that Bitcoin transactions are faster than credit card payments and result in substantial savings for the company. This shift not only benefits the merchant but also the customers and the broader Bitcoin community. Stake n’ Shake began accepting Bitcoin payments at all its restaurant locations globally starting on May 16, 2025.