Coinspeaker
9 hour ago
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Square Launches Bitcoin Transactions for Merchants with Lightning Network

Square, part of Block Inc., has introduced Bitcoin transaction support for its global merchant network. This update allows real-time conversions between Bitcoin and fiat currencies.

  • Sellers can execute transactions as BTC-to-BTC, BTC-to-fiat, fiat-to-BTC, or fiat-to-fiat.
  • The Lightning Network integration ensures nearly instant transaction settlements, reducing payment latency and costs.
  • Transactions are compatible with bank-issued debit cards, credit cards, and crypto wallets.
  • Merchants can choose to hold earnings in BTC or convert them instantly into fiat currencies.

Block (SQ) Stock Price

Following the announcement, Block Inc.'s stock rose by 1.74% to $66.56, valuing the company at around $39.8 billion. Recently, Square incentivized US sellers by offering $50 rewards to promote its Bitcoin Conversations feature.