TechFlow reports that on May 13, according to Bitcoin Magazine, Block’s payment platform Square has enabled Bitcoin payments by default for approximately one million U.S. merchants. Eligible merchants can accept BTC payments via the Lightning Network, with the system automatically converting payments to U.S. dollars in near real-time in the background—defaulting to USD settlement to mitigate exchange-rate volatility risk. This automatic rollout began on March 30, reaching a peak rate of one new merchant enabling the feature every eight seconds. Block also stated it is advancing tap-to-pay Bitcoin functionality leveraging NFC and the Lightning Network, while continuously expanding Bitcoin payment and self-custody-related products across its ecosystem.
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