Square’s new Bitcoin service lets US merchants accept BTC at checkout, hold it in a built-in wallet and get zero fees on transactions.
Square, the payments processor owned by Jack Dorsey’s Block Inc., has launched a new feature enabling local businesses to accept Bitcoin at the point of sale and hold the digital asset in an integrated wallet — a move that could help advance Bitcoin’s use as a medium of exchange.
Announced on Wednesday, the new Square Bitcoin offering allows merchants to accept Bitcoin (BTC) payments and automatically convert a portion of their sales into BTC. Square is waiving processing fees through 2026, with a 1% transaction fee set to take effect on Jan. 1, 2027.
Merchants can store their Bitcoin in a dedicated wallet accessible through Square’s existing dashboard, where they can also buy, sell or withdraw the asset. The service is available only to US sellers, excluding New York State, and is not open to international merchants.
