Square has introduced a new service allowing merchants in the US to accept Bitcoin at checkout and store it through an integrated digital wallet.
The initiative expands Block’s ongoing efforts to embed cryptocurrency into its ecosystem. Through the new system, businesses using Square’s point-of-sale platform can receive Bitcoin directly or choose to automatically convert part of their sales into the cryptocurrency. The company has waived processing fees until 2026, after which a 1% transaction charge will apply from January 2027.
The growing role of Bitcoin in merchant payments
According to Square representatives, the service will remain limited to US sellers for now, excluding those based in New York State due to local regulatory requirements. The built-in wallet enables users to hold, sell, or withdraw their Bitcoin holdings through Square’s existing merchant dashboard.
The launch builds on previous announcements by Block Inc., which had outlined plans to roll out crypto payment features by 2026. The move aligns with the firm’s wider digital asset strategy, which includes Bitcoin trading on Cash App and the development of an open-source mining initiative. Block currently holds around 8,692 BTC, ranking among the world’s largest public company holders of the asset.
Industry analysts suggest that the timing of Square’s launch reflects a renewed phase of cryptocurrency adoption. Research cited by the company indicates that the number of Americans using digital assets for payments could rise by over 80% between 2024 and 2026. Wider studies also suggest increasing interest among consumers in the US and the UK in using cryptocurrency for everyday transactions.
Other payment firms, including PayPal, have expanded similar crypto offerings, while new protocols from major technology companies signal a deeper integration between digital assets and emerging artificial intelligence systems.
