PANews reported on May 13th that, according to Bitcoin Magazine, members of the Block team revealed that Square, a subsidiary of the company, has automatically enabled Bitcoin payment functionality for approximately 1 million US merchants. This allows customers to pay with Bitcoin via the Lightning Network, while merchants settle in USD, with the system handling the real-time exchange in the background. This feature has been available by default to eligible US sellers since March 30th, with a new merchant activating it every 8 seconds at peak times. Miles Suter, Block's Bitcoin product manager, stated that Bitcoin must circulate, not remain idle, otherwise it will lose its transformative value as peer-to-peer cash.