Block Inc.'s Square Rolls Out Bitcoin Payment Solutions to 4 Million Merchants

Block Inc.'s Square payment platform has launched a new suite of Bitcoin payment and conversion tools for its extensive network of over 4 million merchants. The initiative, dubbed "Square Bitcoin," aims to integrate the cryptocurrency into everyday commerce by enabling businesses to accept Bitcoin payments and automatically convert a portion of their sales into the digital asset. This move underscores Block Inc.'s continued commitment to fostering Bitcoin adoption among small businesses.

The announcement, made on October 8, 2025, during Square's second "Square Releases" event, introduces two primary features: Bitcoin Payments and Bitcoin Conversions. Bitcoin Payments allows merchants to accept Bitcoin directly at the point of sale, leveraging the Lightning Network for near-instant settlements. Bitcoin Conversions offers businesses the option to automatically convert up to 50% of their daily card sales into Bitcoin, providing a new avenue for long-term savings and financial diversification.

Square is offering a significant incentive for adoption, waiving all processing fees for Bitcoin Payments through 2026; a 1% fee will apply starting January 1, 2027. Bitcoin Conversions, however, will incur a 1% fee on the converted amount. The company also plans to support this rollout with promotional materials, including "Pay with Bitcoin" signs, as highlighted by the Documenting Bitcoin social media account.

Miles Suter, Head of Bitcoin Product at Block, emphasized the strategic vision behind the launch, stating, "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." The service is currently available to eligible U.S.-based sellers, with the exception of New York State, and aims to empower merchants with more payment options and cost control. Joe Carlo, owner of Pink Owl Coffee, an early adopter, noted the benefits, saying, "By using Bitcoin Conversions in beta, we've built a strong financial reserve for Pink Owl over the past two years."