Square Launches Instant Bitcoin Lightning Network Payments
Square has integrated the Bitcoin Lightning Network into its Block Inc payments platform, enabling merchants worldwide to process near-instant Bitcoin payments. Sellers can execute BTC-to-BTC, BTC-to-fiat, fiat-to-BTC and fiat-to-fiat transactions with real-time conversion between Bitcoin and major currencies. Lightning Network support cuts transaction costs and latency, ensuring payments settle almost instantly. The service is compatible with bank-issued debit and credit cards as well as crypto wallets. Merchants can hold earnings in BTC or convert them automatically into USD or other fiat currencies at settlement. Jack Dorsey announced the rollout on X, highlighting live transactions across crypto and traditional rails. Following the news, Block Inc’s shares rose 1.74% to $66.56, valuing the company at about $39.8 billion. This move streamlines crypto payments and could drive broader Bitcoin adoption among global merchants.
Bullish
The integration of the Bitcoin Lightning Network by Square lowers transaction fees and settlement times, boosting merchant adoption and user experience. In the short term, this could drive increased transaction volume and positive market sentiment around BTC. Long term, easier and cheaper global payments support broader Bitcoin acceptance, potentially increasing network utility and demand. Jack Dorsey’s endorsement and the share price uptick further signal confidence from both merchants and investors, reinforcing a bullish outlook for Bitcoin.