Block Launches Bitkey Hardware Wallet With Touchscreen, Adds Bitcoin Auto-Convert Feature to Cash App

Gate News message, April 28 — Block, the payments company founded by Jack Dorsey, unveiled a new Bitkey hardware wallet equipped with a security touchscreen, utilizing a 2-of-3 multisig architecture, no seed phrase requirement, and built-in inheritance planning features. The wallet is now available for pre-order.

Cash App introduced several new Bitcoin features: users can automatically convert peer-to-peer payments received into Bitcoin, and Square merchants offering 5% Bitcoin cashback on purchases. Withdrawal limits have been increased to $10,000 per day and $25,000 per week, with all fees and spreads waived on purchases exceeding $2,000.

Block also released a proof of reserves covering Bitcoin holdings across Cash App, Square, and company treasury, which users can independently verify through on-chain signatures. Square merchants will support NFC tap-to-pay Bitcoin transactions settled near-instantly via the Lightning Network, with zero processing fees through 2026.

Block's Bitcoin reserves are valued at approximately $2.2 billion, according to the company's disclosure.