The company explains the move as a means for being more transparent and gaining trust
In a move to bolster transparency within the digital asset sector, the Jack Dorsey-led firm announced that its corporate treasury, alongside flagship services Cash App and Square, now utilizes on-chain signatures for asset verification. By implementing this system, the company aims to eliminate the need for blind trust, allowing anyone to independently confirm that the Bitcoin on its balance sheet is fully backed and actively managed.
— Bitcoin at Block (@BitcoinatBlock) April 27, 2026
The current proof-of-reserves system specifically targets the 8,883 Bitcoin held within the company’s treasury, an amount valued at approximately $681.4 million. While many industry participants view this as a necessary step for accountability, the strategy has not gained universal support among corporate giants.
Michael Saylor of Strategy, which remains the largest corporate holder of the digital currency, previously criticized the practice in May 2025. Saylor argued that publicly revealing wallet addresses creates a significant security risk and provides a potential attack vector for hackers, suggesting that audited financial statements are a more secure alternative for enterprise-grade institutions.
Beyond the transparency update, the payments company has launched several new products to integrate cryptocurrency more deeply into everyday commerce. This includes the debut of a Bitkey hardware wallet featuring a touchscreen for secure transaction authorization and new Cash App features that allow users to automatically convert incoming payments into digital assets.
To further encourage adoption, Square merchants can now offer 5% rewards in cryptocurrency, and customer withdrawal limits have been increased to $10,000 per day. These developments reflect a broader mission to transition the asset from a speculative investment into a functional, peer-to-peer electronic cash system as originally envisioned.
This new initiative by Block positions the firm among a growing group of financial institutions that have adopted cryptographic disclosures to reassure users following the high-profile collapse of several major crypto exchanges in recent years.
