Block Launches Global Bitcoin Payments Feature for 4 Million Merchants

Core Insights - Bitcoin is moving closer to becoming a mainstream currency with new payment capabilities introduced by Block for merchants [2][3] Company Developments - Block has launched a bitcoin payment feature for 4 million merchants through Square, allowing instant settlement and no transaction fees until 2027 [2] - The new platform was first demonstrated at Compass Coffee in Washington, D.C., and aims to make bitcoin payments as seamless as card payments [3] - Merchants can convert a portion of their daily card sales into bitcoin, providing increased flexibility and exposure to cryptocurrency [3] Payment Flexibility - Sellers can accept payments in various configurations: bitcoin to bitcoin, bitcoin to fiat, fiat to bitcoin, or fiat to fiat [4] - The Square Bitcoin feature utilizes the Bitcoin Lightning Network for rapid transaction settlement and low fees, reducing credit card processing costs [4] Strategic Direction - Block is shifting its identity from a small merchant enabler to a comprehensive business operating platform that integrates commerce, customer relationships, and financial services [5] - Recent innovations also include bitcoin mining hardware and software, as well as a Cash App feature to locate global merchants accepting bitcoin [5]