Square Launches Bitcoin Payment Service for US Merchants

TLDR

• Square now allows US merchants to accept Bitcoin payments at checkout with zero processing fees until January 1, 2027
• Merchants can automatically convert up to 50% of their daily card sales into Bitcoin and store it in an integrated wallet
• The service is available to over 4 million Square merchants across the US, excluding New York State
• Block Inc., Square’s parent company, holds 8,692 BTC on its balance sheet, making it the 13th-largest public Bitcoin holder
• Bitcoin payments will begin rolling out on November 10, 2025

Square has rolled out a new Bitcoin payment system that lets small businesses accept cryptocurrency at the point of sale. The service launched Wednesday and is available to eligible US merchants through the Square platform.

The new offering includes three main features for sellers. Merchants can accept Bitcoin payments directly at checkout. They can automatically convert a portion of their daily sales into Bitcoin. They also get access to a Bitcoin wallet built into Square’s existing dashboard.

Square is waiving all processing fees on Bitcoin transactions through the end of 2026. Starting January 1, 2027, the company will charge a 1% transaction fee. The zero-fee period gives businesses more than a year to test the service without additional costs.

Merchants can choose to convert up to 50% of their daily card sales into Bitcoin automatically. This feature was piloted in 2024 and has already accumulated 142 Bitcoin through early use. The conversion happens within the same platform where businesses manage their other financial operations.

The service is only available to US sellers, with New York State excluded. International merchants cannot access the Bitcoin payment tools at this time. Bitcoin payments will begin rolling out on November 10.

Bitcoin Wallet Integration

Square’s Bitcoin wallet sits inside the merchant dashboard alongside traditional payment tools. Sellers can buy, sell, or withdraw Bitcoin from the same interface they use for inventory and payroll. This integration aims to make cryptocurrency management as simple as handling regular business finances.

Block Inc., which owns Square, currently holds 8,692 BTC on its balance sheet. This makes the company the 13th-largest public Bitcoin holder worldwide. The Bitcoin holdings reflect Block’s broader strategy around cryptocurrency adoption.

CEO Jack Dorsey has long supported Bitcoin development. He previously added Bitcoin trading to Cash App, Block’s peer-to-peer payment service. The company is also working on open-source Bitcoin mining systems.

Growing Payment Adoption

Research from eMarketer shows US crypto payment usage is projected to grow 82% between 2024 and 2026. This growth reflects a shift in how consumers and businesses view digital assets. A recent YouGov survey found that people in the US and UK increasingly see payments as a leading use case for cryptocurrency.

Payment company PayPal is also expanding its crypto offerings. The platform now lets users send and receive Bitcoin, Ether, and its PYUSD stablecoin. These moves by major payment processors show growing acceptance of cryptocurrency in everyday transactions.

Square had previously announced plans to launch Bitcoin payment services by 2026. The company moved up its timeline and delivered the service ahead of schedule. The launch comes as regulatory conditions for cryptocurrency have improved in the United States.

The Bitcoin payment tools are now live for eligible Square merchants across the country.

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