Former Twitter (now X) CEO and present CEO of Block Inc., Jack Dorsey, has announced that Bitcoin-to-Bitcoin payments are now live. The company will enable over 4 million merchants with its Square payment system to accept Bitcoin as payment.
Dorsey announced the update on X. He stated, “Our sellers can now receive BTC to BTC, BTC to fiat, fiat to BTC, or fiat to fiat […] we have one in CashApp, all merchants (not just Square) worldwide that accept bitcoin.” Now, traders worldwide can choose their preferred settlement method without added complexity.
Traders go live with Bitcoin payments
Dorsey first confirmed that his company was actively working on integrating Bitcoin payments for merchants on April 3rd. He wrote, “not a simple flip, but we are doing it.” The company provided more details on the project last month, promising that it would go live today.
The launch provides access to instant settlement with no fees until 2027. Thereafter, the company shall levy a nominal fee of 1%. This is significantly lower than the typical credit card rates, which can range from 2.5% to 3.5%.
The feature is accessible to traders from the Square dashboard to activate. Buys are executed on the Bitcoin blockchain, making transactions transparent and traceable. BTC and Fiat money are both supported on the platform.
Block is also using the Lightning Network. It is a scaling solution of Bitcoin, which transacts almost instantly with low charges. This allows traders not only to get Bitcoin directly, but they can also use auto-conversion to US dollars as a more stable option.
However, Bitcoin payments cannot be reversed, and compared to credit cards, there is no chargeback option. Although the feature is limiting, it lowers the possibility of fraud. The project will enable millions of businesses, online shopping platforms, and major retail outlets to receive Bitcoin payments safely and securely.
Block has previously invested in Bitcoin’s infrastructure. The company owns more than 8,000 BTC worth around half a billion dollars. According to reports, it continues to build out its crypto ecosystem with products like the Bitkey hardware wallet.
To that end, Block has recorded significant growth in the financial technology and crypto sectors. Meanwhile, the company reported earnings of $0.54 per share in the third quarter. Revenue was $6.11 billion, slightly below the estimated $6.312 billion.
However, despite the earnings gap, Square’s gross payment volume still rose 12% from a year earlier. According to market watchers, this integration will provide users and businesses with financial freedom through open systems.
The Bitcoin market bounces back as institutional demand rises
Jack Dorsey’s Block generated $1.97 billion in Bitcoin revenue for Q3. This is nearly one-third of its total revenues. However, Block’s Bitcoin costs dropped to $1.89 billion in Q3, though its 8,780 BTC balance sheet holdings booked a $59 million quarterly loss.
Additionally, Kazakhstan plans to establish a $1 billion cryptocurrency reserve fund by 2026. It plans to use seized and repatriated assets plus proceeds from state mining. Meanwhile, the price of BTC is up by approximately 1.68% in the last 24 hours.
Its trade volume is still up a big 39%, at $74 billion. The rise in trading volume may have been pushed by Strategy’s purchase, which added more Bitcoin to its portfolio. As reported by Cryptopolitan, Strategy purchased an additional 487 Bitcoin, worth approximately $50 million. This is the largest purchase the company has made since late September 2025, and it now holds a total of 641,692 BTC in its portfolio.
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