- Square launches Bitcoin payments at 4M US merchants.
- No fees on transactions until 2027.
- Instant fiat conversion available for sellers.
This rollout enhances Bitcoin’s usability in retail markets, potentially influencing further adoption. Merchants have started utilizing this option, drawing attention to competitive reactions from other payment platforms.
Square, led by Jack Dorsey, is now enabling Bitcoin payments for over 4 million merchants across the United States. This rollout leverages Square terminals for businesses to seamlessly accept BTC at checkout.
In a statement, Dorsey highlighted that merchants can process payments as btc to btc, btc to fiat, fiat to btc, and fiat to fiat. The move aligns with Dorsey’s advocacy for broader Bitcoin use in retail.
Merchants enjoy no processing fees on Bitcoin transactions until 2027, with a favorable future rate of 1%. This fee structure is poised to stimulate extensive adoption among US businesses, challenging existing payment processors.
The launch indirectly impacts the competitive landscape, with the Bitcoin-only integration currently excluding cryptocurrencies like ETH and stablecoins. Square’s embrace of Lightning Network ensures fast, low-cost settlements for merchants. Square’s gross payment volume surged to $67.2 billion in Q3 2025, reflecting a 12% year-over-year growth.
Experts foresee potential regulatory challenges, especially with Square’s exclusion of New York due to compliance issues. However, Dorsey’s push for a tax exemption on small Bitcoin transactions could aid in mainstream crypto adoption.
As Jack Dorsey stated, “We have a lot of hope for this… We’re going to look for every opportunity to both educate all of our sellers on why accepting Bitcoin is the best option and why buyers would want to use it as well.”
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