Dorsey, Twitter's creator, initiates bitcoin implementation for real-world transactions
In a significant move towards cryptocurrency adoption, Square, a leading payment platform under Block Inc., has begun onboarding select merchants to accept Bitcoin payments via the Lightning Network through existing Square point-of-sale (POS) terminals[1][2][3][4][5]. This marks the first phase of a broader plan aiming for a full rollout of Bitcoin payments integration by 2026.
The initial rollout involves a limited number of merchants who are testing the system, with the aim to eventually enable Bitcoin payments for Square's over 4 million merchants in the U.S.[2][3]. The system leverages the Bitcoin Lightning Network, a second-layer solution, to enable much faster and significantly cheaper Bitcoin transactions compared to traditional on-chain transfers[1][2][3][5]. This allows for settlements within seconds and reduces fees to less than a cent.
Merchants have the choice to either hold the Bitcoin they receive or instantly convert it into fiat currency through Square’s system, mitigating exposure to Bitcoin price volatility[1][2][3]. Bitcoin payments via Square are expected to be much cheaper than traditional credit card payment processing fees (which usually range 1.5% to 3.5%), supporting Block’s goal to reduce costs for small and large retail businesses[1][3].
This rollout complements Block's broader Bitcoin ecosystem, including Cash App’s Bitcoin trading, the Bitkey self-custody wallet, Bitcoin mining hardware (Proto), and Spiral, which funds Bitcoin open-source projects[2]. The system was publicly previewed during the Bitcoin 2025 conference in Las Vegas, where Square showcased the technical framework and live demo for merchants and users[1][2].
Square's non-custodial payment model aligns with decentralized finance principles, giving users full control over their bitcoins[6]. The company's efforts to implement updated regulations for the wider acceptance of bitcoin and digital assets continue[7]. Square has entered a competitive market for bitcoin payments, joining platforms like PayPal, Coinbase, and BitPay.
Notably, Block is investing 10% of its gross profit from bitcoin into monthly purchases of the cryptocurrency[8]. The company also supports the establishment of a federal licensing system for digital assets[9]. As Square moves forward with its Bitcoin integration, it is expected to begin trading on the S&P 500 index on the same day as its launch[10].
Meanwhile, the crypto landscape is not the only arena experiencing change. Turkey unveiled the first hypersonic missile, Tayfun Block 4, at IDEF 2025[11]. However, the country is also facing challenges, with over 35 foreign e-SIM providers reportedly being blocked[12], and ongoing discussions about its relationship with the EU[13].
1. https://www.coindesk.com/business/2025/07/15/square-is-testing-bitcoin-payments-with-a-limited-number-of-merchants/ 2. https://www.coindesk.com/business/2025/07/15/square-is-testing-bitcoin-payments-with-a-limited-number-of-merchants/ 3. https://www.reuters.com/business/finance/square-to-test-bitcoin-payments-with-limited-number-of-merchants-2025-07-15/ 4. https://www.businessinsider.com/square-to-test-bitcoin-payments-through-lightning-network-2025-7 5. https://www.cnbc.com/2025/07/15/square-to-test-bitcoin-payments-through-lightning-network.html 6. https://www.coindesk.com/business/2025/07/15/square-is-testing-bitcoin-payments-with-a-limited-number-of-merchants/ 7. https://www.coindesk.com/business/2025/07/15/square-is-testing-bitcoin-payments-with-a-limited-number-of-merchants/ 8. https://www.coindesk.com/business/2025/07/15/square-is-testing-bitcoin-payments-with-a-limited-number-of-merchants/ 9. https://www.coindesk.com/business/2025/07/15/square-is-testing-bitcoin-payments-with-a-limited-number-of-merchants/ 10. https://www.cnbc.com/2025/07/15/square-to-test-bitcoin-payments-through-lightning-network.html 11. https://www.defensenews.com/global/europe/2025/07/15/turkey-unveils-first-hypersonic-missile-tayfun-block-4-at-idef-2025/ 12. https://www.reuters.com/world/middle-east/turkey-blocks-over-35-foreign-e-sim-providers-no-explanation-2025-07-16/ 13. https://www.aljazeera.com/news/2025/07/15/turkey-europe-eu-tensions-high-ahead-of-key-summit
NATO could potentially consider adopting Bitcoin as a method of diplomatic or humanitarian finance, given its faster and cheaper transactions compared to traditional methods. Moreover, Turkiye, as a member of the NATO alliance, may find it beneficial to invest in technology for the development of Bitcoin infrastructure, considering Square's success with the Lightning Network and Block's broader Bitcoin ecosystem.
