Square Lands Ninth Spot in Top 100 in FinTech for Ecommerce

Block Inc., the parent company of Square, has secured the ninth position in FinTech Magazine's Top 100 FinTech Companies list as the payments platform continues to expand its reach across commerce and cryptocurrency sectors. 

Founded in 2009 by Jack Dorsey, the company serves 4 million merchants alongside 57 million users through its dual ecosystem of Square and Cash App.

It processed US$209.6bn payments as of 2023.

The Oakland-based firm operates across the United States, Australia, Canada, France, Japan, Republic of Ireland, Spain and the United Kingdom. 

Block changed its ticker symbol from SQ to XYZ in January 2025, reflecting a shift in corporate identity that began when the company rebranded from Square, Inc. to Block, Inc. in December 2021. 

In July 2025, the company joined the S&P 500.

Bitcoin integration drives merchant adoption

Block recently launched Square Bitcoin 2025, marking a significant expansion of cryptocurrency services for merchants. 

The integrated payment and wallet solution enables businesses to accept Bitcoin payments with zero processing fees and automatically convert card sales into Bitcoin through the Square ecosystem.

“The bitcoin tools we’re building at Square deliver on two critical needs: ensuring sellers never miss a sale, and giving them access to powerful financial tools that help them more easily manage and grow their finances,” says Miles Suter, Head of Bitcoin Product at Block. 

“We’re making bitcoin payments as seamless as card payments while giving small businesses access to financial management tools that, until now, have been exclusive to the largest corporations. 

“Through Square and Cash App, we serve both sides of the counter, meaning Square is uniquely positioned to make bitcoin everyday money, not just a store of value – while also helping sellers future-proof their operations.”

The company piloted the Lightning Network-powered payment system at the Bitcoin 2025 conference in Las Vegas in May, with full rollout planned for all eligible Square merchants by 2026.

Block holds 8,692 Bitcoin on its balance sheet as of 2024, ranking it among the 13 largest public Bitcoin holders globally. 

Block allocates 10% of all profits from Bitcoin products back into Bitcoin purchases.

Earlier in the year, Miles said "Bitcoin is at a crossroads – on one hand it's never been stronger: a trillion in market cap, millions of holders, and even talk of nation-state adoption."

"We use Bitcoin to hold, to hedge, to opt out, but we rarely use it to live. At Block Inc., we believe that has to change."

The statement was made at the time of Block announcing its Bitcoin Business Stack. 

Financial performance and market position

Block reported gross profit of US$2.54bn for the second quarter of 2025, representing 14% growth year-over-year. The company raised its full-year 2025 profit forecast to US$10.17 bn from US$9.96bn following second-quarter results. Revenue for the quarter stood at US$6.054bn.

The Square segment showed gross profit growth of 9% year-over-year in the first quarter, with gross payment volume increasing 7.2 %. The total gross profit was US$1.03bn.

Cash App gross profit grew 10% year-over-year in the same period. 

Block expects third-quarter 2025 gross profit to reach US$2.6bn, up 16% year-over-year, with adjusted operating income of US$460m.

"Square's growth is driven by product innovation and enhanced go-to-market strategies," said Amrita Ahuja, Chief Financial Officer and Chief Operating Officer at Block.

"We're seeing strong returns from field sales and partnerships, with significant product releases planned. 

“Our focus on core verticals and upmarket sellers is yielding positive results."

Product expansion and artificial intelligence

Block introduced Square Releases in October 2025, a biannual product launch format designed to consolidate new features and tools for merchants. 

The second Square Releases event featured Square AI, an enhanced conversational assistant that integrates external data including weather, events, news and customer reviews with business metrics.

Square AI enables merchants to access business intelligence through the Square Dashboard, incorporating neighbourhood insights to support menu, staffing and inventory decisions. 

Block also announced Voice AI ordering capabilities to manage customer orders during peak periods.

The company launched Square Handheld, a portable point-of-sale device that combines tableside ordering, barcode scanning and inventory management in a pocket-sized format. 

Additionally, Square now offers lending through Square Loans, with Block originating more than US$4 bn in loans globally. Square Loans, has funded over 460,000 businesses.

The company announced in February 2025 that it was manufacturing three-nanometre Bitcoin mining chips with plans for rollout later in the year.

Amrita described the company's approach to automation during the 2025 Fortune COO Summit: "We're automating not just the customer experience – whether it's a small business on Square or someone managing money on Cash App – but the company itself. 

"From contracts to treasury movement, we're using shared infrastructure and tools like generative AI, including our internal agentic AI platform, codename goose, to drive that transformation," she said at the 2025 Fortune COO Summit.