Khadija Chakiry
- Square, the payments platform co-founded by Twitter’s Jack Dorsey, has begun onboarding merchants to its new Bitcoin acceptance feature.
- This rollout allows participating businesses to accept Bitcoin through Square’s current point-of-sale systems.
- This seamless integration removes previous barriers to crypto payments and supports both crypto-savvy and traditional business models.
Square, the payments platform co-founded by Twitter’s Jack Dorsey, has begun onboarding merchants to its new Bitcoin acceptance feature, a development that could significantly boost Bitcoin’s presence in the U.S. retail sector.
According to Miles Suter, Bitcoin Product Lead at Block, the roll-out of a native bitcoin experience to millions of sellers aligns with the company’s objective of economic empowerment for merchants. Suter highlighted that the new feature would enable faster payments for small businesses and allow them to retain more revenue. This aligns closely with Square’s broader mission of providing inclusive and efficient financial tools to its vast merchant base.
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Through the Lightning Network, which facilitates quicker and more affordable payments, this rollout allows participating businesses to accept Bitcoin through Square’s current point-of-sale systems. With the option to either accept payments in Bitcoin directly or instantly convert them to US dollars, merchants can do away with worries about price volatility.
This seamless integration removes previous barriers to crypto payments and supports both crypto-savvy and traditional business models. Crucially, there is no need for extra hardware because the integration makes use of Square’s existing infrastructure. Months of internal testing and development preceded the move, underscoring the company’s commitment to both user experience and operational efficiency.
“Calling Block a payments company is like calling Amazon a bookseller,” Amrita Ahuja, CEO of Square, said. “We’ve grown in so many different ways across multiple dimensions”, she added. Her statement reflects the broader vision driving innovations like this Bitcoin rollout, positioning Block as a major force in the evolving digital economy.
Square, a division of Block Inc, provides services and solutions to more than 4 million businesses. With such scale, the introduction of Bitcoin payments could meaningfully reshape how digital currency is used in everyday commerce.
