Block, the fintech company led by Jack Dorsey, is doubling down on its Bitcoin-first strategy by launching a comprehensive Bitcoin banking suite tailored for small businesses.
Author: Sahil Thakur
Block, the fintech company led by Jack Dorsey, is doubling down on its Bitcoin-first strategy by launching a comprehensive Bitcoin banking suite tailored for small businesses. The move aims to make Bitcoin a practical medium of exchange in daily business operations, giving entrepreneurs tools for deposits, withdrawals, payroll, payments, lending, and treasury management, all denominated in BTC.
The initiative builds on Block’s existing Bitcoin-focused products like Cash App and marks a strategic expansion into business finance. By providing the infrastructure for merchants to operate fully on a Bitcoin standard, Block hopes to democratize access to tools previously reserved for large corporations.
Through Square, Block already serves over four million merchants in the U.S. and processes more than $240 billion annually. The integration of Bitcoin into Square’s point-of-sale systems allows merchants to accept BTC payments directly and choose to hold them in company treasuries. Businesses will also gain access to liquidity options such as Bitcoin-backed loans, bringing corporate-level treasury strategies to small and medium-sized enterprises.
Cash App remains a cornerstone of Block’s Bitcoin ecosystem, with 57 million active users and $10 billion in Bitcoin-related revenue in 2024 alone. Beyond buying and selling BTC, Cash App is one of the first mainstream payment platforms to integrate the Lightning Network, enabling instant, low-fee Bitcoin payments.
To support security and self-sovereignty, Block has launched Bitkey, a multisignature hardware wallet. It gives users a recovery framework that splits keys across the device, Block’s secure servers, and the user’s own encrypted cloud storage, reinforcing the principles of censorship resistance and individual control.
According to Block product lead Mile Suter, the vision is to make Bitcoin “everyday money, just like Satoshi intended.” With this business-focused expansion, Block is pushing Bitcoin beyond an investment asset into a functioning financial infrastructure. The company believes empowering small businesses with Bitcoin-native tools will accelerate mainstream adoption and establish BTC as a core element of global commerce.
While no launch date has been set, Block’s deepening Bitcoin ecosystem signals a broader trend: established fintechs are positioning Bitcoin not as a side offering but as the backbone of their future financial models.
Publicly praises Bitcoin, calling it influential for the internet’s future.
Square’s Cash App enables buying and selling Bitcoin in the U.S.
Square purchases $50M in BTC as a treasury investment.
Square adds ~$170M in BTC to its balance sheet.
Announces TBD, an open platform for decentralized finance built around Bitcoin.
Square rebrands to Block, Inc.; Bitcoin-focused initiatives like Spiral and TBD become core units.
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