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Block Inc., the financial technology firm led by Jack Dorsey, has introduced a Bitcoin proof-of-reserves system aimed at providing real-time transparency into corporate crypto holdings. In its disclosure, the company said it holds more than $2.2 billion worth of Bitcoin across its balance sheet and customer platforms.
Announced on April 27, Block’s initiative allows users and investors to independently verify the company’s Bitcoin reserves using cryptographic signatures on the blockchain. Block said the system is designed to confirm not only the existence of funds, but also active control over the private keys, moving beyond traditional audit models that rely on periodic reporting.
Block disclosed total holdings of approximately 28,355 BTC. Of that amount, about 19,357 BTC are held on behalf of customers through Cash App and Square, while roughly 8,998 BTC are held on the company’s own balance sheet as a treasury investment.
The proof-of-reserves model reflects a broader push within the crypto sector to rebuild trust after past failures associated with opaque custody practices. By enabling public verification, Block said it aims to reduce counterparty risk and set a disclosure benchmark for publicly traded firms.
Block’s approach is positioned as more than a static snapshot. The company said the system emphasizes continuous verification, enabling stakeholders to confirm balances directly on-chain to support confidence that assets are fully backed and accessible.
Block’s disclosure also comes with an eye toward regulatory developments. The company said current requirements for public companies do not mandate real-time reserve verification, but its approach suggests stricter oversight could emerge as digital assets become more integrated into mainstream finance.
The proof-of-reserves rollout coincides with product updates intended to expand Bitcoin’s role across Block’s ecosystem. The company introduced an updated version of its Bitkey hardware wallet, featuring a touchscreen interface and a multisignature setup designed to remove the need for traditional recovery phrases.
In payments, Cash App launched a Bitcoin Back program offering rewards in Bitcoin for purchases made through Square merchants. Block also demonstrated a prototype for contactless Bitcoin payments via NFC, powered by the Lightning Network for near-instant settlement.
Block said it will waive processing fees for Bitcoin payments through Square until the end of 2026, aiming to reduce friction for merchants and support the use of BTC as a practical medium of exchange rather than only a speculative asset.
Block’s integrated strategy—combining custody, payments, and verification—underscores its stated long-term commitment to Bitcoin as both infrastructure and a financial asset. By pairing transparency with product expansion, the company is positioning itself within a maturing digital asset ecosystem.
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