Briefly
- Block on Wednesday joined the coveted S&P 500.
- Its funds firm, Sq., began rolling out a Bitcoin accepted function.
- Owen Jennings, mentioned on Tuesday that Block’s point-of-sale cost firm, Sq., was onboarding clients for “the brand new native Bitcoin acceptance expertise.”
Jack Dorsey’s Block (XYZ) has began including the primary clients for its Bitcoin funds service, simply because the agency joins the S&P 500.
Shares of the NYSE-listed firm, which owns Sq., Money App, and TIDAL, closed up 0.5% however have risen greater than 14% over the previous week.
Dorsey stepped down as CEO Twitter, the corporate he based, in 2021 to give attention to making Bitcoin the world’s dominant foreign money.
Block’s government officer and head of enterprise, Owen Jennings, mentioned on X Tuesday that Block’s level of sale cost firm, Sq., was now onboarding clients for “the brand new native Bitcoin acceptance expertise.”
growth.
immediately we’re onboarding our first few @Sq. sellers for the brand new native bitcoin acceptance expertise
that is the way in which!
— OBJ (@owenbjennings) July 22, 2025
Block didn’t instantly reply to Decrypt‘s questions.
First introduced in Could, Sq. will use Bitcoin’s layer 2 community, Lightning, so retailers can settle for BTC from those that wish to pay with it. Lightning allows cheaper and sooner transactions so the cryptocurrency can be utilized to make smaller purchases.
“By leveraging the Lightning Community, the Sq. level of sale app allows retailers to simply accept Bitcoin funds immediately via their Sq. {hardware} for near-instantaneous, low-cost transactions,” an announcement in Could mentioned, including that the cryptocurrency offers “financial empowerment” to retailers.
Block, which rebranded from Sq. Inc. in 2021, has been specializing in Bitcoin-related merchandise as Dorsey preaches the advantages of utilizing the cryptocurrency.
The Bitcoin maximalist and founding father of Twitter (now X) has lengthy spoken about how the main cryptocurrency needs to be used for what it was designed to do: Funds.
Block’s funds app, Money App, has lengthy allowed customers to ship, obtain, and purchase Bitcoin.
Bitcoin was lately buying and selling at about $118,000, down 1.4% over the previous 24 hours, though the most important cryptocurrency by market worth has risen greater than 26% year-to-date. Block’s share worth has fallen greater than 8% since January 1, regardless of an upturn in BTC and wider cryptocurrency markets.
A rising variety of corporations wish to present Bitcoin cost companies.
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