Square Introduces Bitcoin Payments for Merchants
Square, owned by Jack Dorsey’s Block Inc., has unveiled a new Bitcoin payment feature allowing US merchants to accept BTC at checkout and store it in a built-in wallet. This launch could accelerate Bitcoin’s real-world utility as a payment option.
The service enables merchants to convert part of their sales into Bitcoin, with Square waiving all processing fees through 2026. A 1% transaction fee will apply starting January 1, 2027.
Currently available to US merchants outside New York State, the feature integrates directly into Square’s dashboard, enabling seamless Bitcoin buying, selling, and withdrawals.
Expanding Bitcoin’s Use in Everyday Commerce
More than 4 million merchants already use Square’s payment platform, suggesting significant potential for Bitcoin’s wider adoption. The company’s move aligns with CEO Jack Dorsey’s ongoing efforts to promote Bitcoin as a global payment system.
Dorsey previously added Bitcoin trading to Cash App and is leading Block’s open-source Bitcoin mining initiative aimed at lowering mining costs. Block Inc. also holds 8,692 BTC, ranking as the 13th-largest public Bitcoin holder globally.
Crypto Payments Gain Momentum
The rise of Bitcoin payments comes amid favorable US regulatory developments and growing public acceptance of digital assets. Square cited eMarketer research projecting an 82% growth in crypto payment usage between 2024 and 2026.
A YouGov survey shows that consumers in the US and UK increasingly see cryptocurrency as a viable payment method. The rise of AI tools capable of initiating crypto transactions, such as Google’s new Agent Payments Protocol, further highlights crypto’s expanding role in digital finance.
Meanwhile, PayPal has broadened its crypto services, allowing users to send and receive Bitcoin, Ether, and its PYUSD stablecoin. Together, these developments signal a new wave of innovation in digital payments and Bitcoin adoption.
