Block, the payments company founded by Jack Dorsey, has launched Bitcoin payment capabilities for 4 million merchants globally through its Square Bitcoin feature.
This integration allows merchants to accept Bitcoin at checkout with instant settlement over the Bitcoin Lightning Network, and sellers will pay no fees until 2027.
Merchants can also choose to automatically convert a portion of their daily card sales into Bitcoin.
Square bitcoin platform expands reach
The feature, first introduced in October, had its inaugural demonstration at Compass Coffee in Washington D.C.
Block says the initiative is designed to make Bitcoin payments as accessible as traditional card payments, while giving small businesses new financial tools.
Block’s Head of Bitcoin Product Miles Suter explained in an earlier statement:
“We’re making Bitcoin payments as seamless as card payments while giving small businesses access to financial management tools that, until now, have been exclusive to the largest corporations.”
Instant settlement and flexible options
According to a post by Dorsey, sellers can now receive payments in various configurations, including BTC to BTC, BTC to fiat, fiat to BTC, or fiat to fiat.
The Square Bitcoin solution is fully integrated, enabling both payment acceptance and automatic conversion, and leverages Bitcoin’s Lightning Network for fast and low-cost transactions.
Broader bitcoin product ecosystem
Beyond the point-of-sale rollout, Block has launched a self-custody hardware wallet called BitKey and enables Bitcoin trading via its Cash App product.
Cash App users can now locate global merchants that accept Bitcoin, including those using Square Bitcoin, directly within the app.
Push for bitcoin as everyday money
Dorsey has also advocated for a de minimis tax exemption on small Bitcoin transactions, aiming to make everyday use more practical for Americans.
As Bitcoin gains traction in payments, Block’s expansion marks a significant step toward mainstream merchant acceptance.
