TLDR
- Square’s new Bitcoin payment service launches for US merchants with zero processing fees through December 31, 2026
- Businesses can accept Bitcoin at checkout and automatically convert up to 50% of daily sales into cryptocurrency
- Over 4 million Square merchants can access the integrated Bitcoin wallet through their existing dashboard
- Service excludes New York State and international merchants, with Bitcoin payments rolling out November 10
- Block Inc. holds 8,692 BTC, ranking as the 13th-largest public Bitcoin holder globally
Square has introduced a Bitcoin payment solution for small businesses across the United States. The payment processor announced Wednesday that merchants can now accept cryptocurrency directly at the point of sale through its platform.
The new Square Bitcoin service includes three core components for sellers. Merchants gain the ability to accept Bitcoin payments from customers. They can set up automatic conversion of daily sales into Bitcoin. The platform also provides a built-in Bitcoin wallet accessible through Square’s merchant dashboard.
Square is offering zero processing fees on all Bitcoin transactions until December 31, 2026. After that date, a 1% transaction fee will apply starting January 1, 2027. This extended fee-free period gives businesses nearly 15 months to adopt the service without additional costs.
The automatic conversion feature lets merchants turn up to 50% of their daily card sales into Bitcoin. This tool was tested in a 2024 pilot program that accumulated 142 Bitcoin. Businesses can manage these conversions through the same interface used for inventory tracking and payroll management.
Availability and Limitations
The Bitcoin payment service is limited to eligible US sellers only. New York State is excluded from the rollout. International merchants cannot access these tools at the current time. Bitcoin payment processing will begin on November 10, 2025.
Square’s merchant base includes more than 4 million businesses using its payments platform. The Bitcoin service extends cryptocurrency payment options to this entire network of sellers. Miles Suter, Block’s head of bitcoin product, stated the tools help merchants “never miss a sale.”
Block’s Bitcoin Strategy
Block Inc., Square’s parent company, maintains 8,692 BTC on its corporate balance sheet. This holding positions Block as the 13th-largest public company Bitcoin holder worldwide. The company’s CEO, Jack Dorsey, has consistently advocated for Bitcoin adoption.
Dorsey previously integrated Bitcoin features into Cash App, Block’s peer-to-peer payment application. The company is also developing open-source Bitcoin mining technology. Square’s Bitcoin wallet integrates directly into the merchant dashboard where sellers manage their business finances.
Research from eMarketer projects US crypto payment usage will grow 82% from 2024 to 2026. A YouGov survey found consumers in the US and UK increasingly view payments as a primary cryptocurrency use case. Payment processor PayPal has also expanded its crypto services, allowing Bitcoin, Ether, and PYUSD stablecoin transactions.
Square originally planned to launch Bitcoin payment services by 2026 but accelerated its timeline. The service is now available for eligible Square merchants nationwide.
