Square to Expand Bitcoin Payment Options to 4 Million Merchants by 2026

Square, the financial services and digital payments company, has announced plans to roll out Bitcoin payment acceptance to its extensive network of four million merchants by 2026. This initiative, which began its initial phase on July 22, 2025, aims to integrate cryptocurrency into everyday retail transactions, leveraging the Lightning Network for faster and more cost-effective processing. The company highlighted its significant reach, stating in a recent social media post, "> 4 million neighborhood businesses run on Square. See you in the neighborhood."

The new Bitcoin payment system allows Square merchants to accept cryptocurrency through their existing hardware. Owen Jennings, an executive at Block (Square's parent company), confirmed the launch on social media, noting the company is "onboarding our first few Square sellers for the new native bitcoin acceptance experience." Merchants will have the flexibility to either retain Bitcoin or instantly convert it to fiat currency, mitigating volatility risks associated with digital assets.

This strategic move underscores Square's commitment to empowering small businesses, a mission it has pursued since its inception in 2009 with the first mobile card reader. The company, which also recently launched a unified Point of Sale app in April 2025, serves a diverse base across retail, restaurants, and services, offering a comprehensive suite of tools from payment processing to payroll management. Square's market leadership in point-of-sale systems, serving 4 million sellers as of 2024, positions it to significantly influence crypto adoption in the retail sector.

The "See you in the neighborhood" campaign, launched around September 2025, further emphasizes Square's focus on supporting local economies and businesses. By integrating Bitcoin payments, Square aims to reduce traditional transaction fees, which typically range from 1.5% to 3.5% for credit cards, potentially offering substantial savings for its merchants. This aligns with Block's broader Bitcoin strategy, which includes Cash App, Bitkey, and investments in open-source Bitcoin projects.

Despite the ambitious rollout, the initiative faces regulatory hurdles, with the feature not yet expected to be available in New York State or outside the United States without further approvals. Block operates under a virtual currency business activity license, but specific authorizations for the Bitcoin payment feature are still required. The full availability to all eligible Square sellers is targeted for 2026, marking a pivotal step in mainstreaming Bitcoin for commerce.