Block Launches On-Chain Proof-of-Reserves for Corporate and Consumer Bitcoin Holdings

According to Block, users can verify 28,355.05 BTC in corporate and customer-related reserves through on-chain cryptographic signatures as the company expands Bitkey, Cash App, and Square Bitcoin payment features.

BTC

33d ago

Fact Check

The claim is strongly supported by Block's own April 27, 2026 announcement, 'Block launches Bitkey wallet with screen, automatic bitcoin earning on Cash App, and Proof of Reserves,' which explicitly says Block launched on-chain verifiable Proof of Reserves for Cash App, Square, and Block's corporate treasury while also expanding Bitkey, Cash App, and Square bitcoin features. The official 'Block Bitcoin Transparency' page is the direct source for the reserve figure; search results for that page show the exact total '28,355.05 BTC' across customers and corporate treasury. The independent report 'Block opens its Bitcoin treasury to public verification with proof of reserves' corroborates the launch. The only caveat is that the fetched proof-of-reserves page body displayed placeholders instead of the numeric values, so the exact BTC amount is confirmed via search-result snippet tied to the official page rather than fully rendered page text. Overall, the evidence supports the claim.

Summary

Block introduced an on-chain proof-of-reserves system covering its corporate Bitcoin holdings and selected consumer products, allowing users to independently verify reserves through cryptographic signatures published on-chain. In its Q1 2026 proof-of-reserves report, the company disclosed 28,355.05 BTC worth about $2.2 billion at quarter-end, including 19,357.16 BTC held for customers and 8,997.89 BTC in treasury reserves. Alongside the transparency update, Block launched a new Bitkey hardware wallet, added a Cash App feature that automatically converts peer-to-peer payments into Bitcoin, and said Square merchants will support Lightning Network-based NFC Bitcoin payments with no processing fees through 2026.

Terms & Concepts

Proof-of-reserves: A method for showing that a company holds the digital assets it claims to control, typically using cryptographic evidence that users can verify.
On-chain: Recorded and viewable on a blockchain network, allowing external users to inspect transactions or proofs directly.
Lightning Network: A Bitcoin scaling network that enables faster, lower-cost payments by processing transactions off the main blockchain.