- Square launches Bitcoin payments for US merchants, allowing instant BTC transactions with a built-in wallet and no fees until 2027.
- Merchants can hold, buy, or sell Bitcoin directly within Square’s dashboard, integrating crypto seamlessly into their business operations.
- The move aligns with Block Inc.’s long-term Bitcoin vision, reinforcing CEO Jack Dorsey’s mission to advance Bitcoin as a global payment standard.
Square, the payments processing arm of Jack Dorsey’s Block Inc., has introduced a new Bitcoin payment feature that allows US-based merchants to accept Bitcoin (BTC) directly at checkout. Announced on Wednesday, the service integrates Bitcoin payments into Square’s existing point-of-sale system and provides merchants with an in-built crypto wallet to hold or manage their assets.
Under the new offering, businesses can accept Bitcoin payments and automatically convert part of their revenue into BTC, giving them flexibility to balance between fiat and crypto holdings. Square has also waived all transaction fees until 2027, after which a 1% fee will be introduced on January 1, 2027.
Currently, the feature is available only to merchants in the United States, excluding New York State, due to regulatory restrictions. Square’s expansion into Bitcoin payments represents a significant milestone, considering that over 4 million merchants use its payment platform globally.
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Advancing Bitcoin adoption in everyday commerce
Square’s new initiative reflects its parent company Block Inc.’s growing commitment to Bitcoin integration across its ecosystem. CEO Jack Dorsey, a long-time Bitcoin advocate, has consistently emphasized the cryptocurrency’s potential as a universal medium of exchange and a foundation for financial freedom.
Dorsey previously introduced Bitcoin trading and payments in Cash App, Block’s popular peer-to-peer platform, and spearheaded the development of an open-source Bitcoin mining system to make mining more accessible and energy-efficient.
Block currently holds 8,692 BTC on its balance sheet, making it the 13th-largest public holder of Bitcoin worldwide, according to industry data.
Crypto payments gain renewed momentum
The resurgence of crypto payments coincides with a friendlier regulatory climate in the United States and rising institutional interest in digital assets. Square cited eMarketer research predicting that US crypto payment adoption will rise 82% between 2024 and 2026, underscoring the growing comfort among consumers and businesses alike.
Recent surveys from YouGov also show that consumers in the US and UK increasingly view crypto as a practical payment method, not just a speculative investment. Furthermore, advances in artificial intelligence are expected to accelerate crypto integration — especially as AI-powered financial agents begin to conduct and authorize digital asset transactions autonomously.
This trend is reflected in Google’s Agent Payments Protocol, designed to enable AI systems to initiate crypto payments, and PayPal’s expansion of peer-to-peer transfers in Bitcoin (BTC), Ether (ETH), and PYUSD, its US dollar-backed stablecoin.
