Bitcoin News Today: Square Turns Bitcoin into Everyday Currency for U.S. Merchants

Square, a subsidiary of Block Inc., has launched Square Bitcoin, a fully integrated payment and wallet solution enabling U.S. merchants to accept and manage Bitcoin transactions within its ecosystem. The service, introduced during the company's Square Releases event, includes two core features: Bitcoin Payments and Bitcoin Conversions. Bitcoin Payments allows merchants to accept Bitcoin with zero processing fees for the first year, while Bitcoin Conversions automatically converts a portion of daily card sales into Bitcoin. Merchants can manage their Bitcoin holdings through a built-in wallet within the Square Dashboard, offering buy, sell, hold, and withdrawal functionalitiesSquare Brings Bitcoin to Main Street with First Integrated …^[1].

The launch aligns with growing adoption of cryptocurrency in commerce. Market data cited by Square projects an 82% increase in U.S. cryptocurrency payment users between 2024 and 2026Square Unleashes 0% Fee Bitcoin Payments, Sending Block Stock …^[2]. The service aims to simplify Bitcoin integration for small businesses by eliminating technical complexities. For instance, merchants like Pink Owl Coffee in California have used Bitcoin Conversions in a beta program since 2024, accumulating 142 Bitcoin by October 1, 2025Square Brings Bitcoin to Main Street with First Integrated …^[1].

Square Bitcoin leverages the Lightning Network for faster, lower-cost transactions, enabling instant settlement in either Bitcoin or U.S. dollars. Merchants can choose to hold Bitcoin or convert it to fiat, mitigating price volatility risks. The system offers significant cost savings compared to traditional credit card processing, which typically charges 1.5–3.5% fees. A Square merchant reported cutting processing fees in half by accepting Bitcoin paymentsSquare Rolls Out Bitcoin Payments to 4 …^[3].

However, regulatory constraints limit the service's availability. Square Bitcoin is not accessible in New York State or outside the U.S., pending approvals. Block, which operates under a virtual currency business activity license in New York, must navigate additional regulatory hurdles for broader adoption. The company plans a phased rollout, targeting full availability by 2026Square Rolls Out Bitcoin Payments to 4 …^[3].

The launch marks a strategic expansion of Block's Bitcoin ecosystem, which includes Cash App's trading features, Bitkey (a self-custody wallet), Proto (mining services), and Spiral (open-source projects). Miles Suter, Head of Bitcoin Product at Block, emphasized the initiative's role in bridging traditional commerce with digital currency, stating that Square is uniquely positioned to make Bitcoin "everyday money" rather than just a store of valueSquare Unleashes 0% Fee Bitcoin Payments, Sending Block Stock …^[2].

Market reactions followed the announcement. Block's stock rose 2.5% to $81, its highest level since February, reflecting investor optimism about the company's renewed Bitcoin focusSquare Unleashes 0% Fee Bitcoin Payments, Sending Block Stock …^[2]. The company's addition to the S&P 500 on July 23, 2025, further underscored its growing influence in the fintech and crypto sectorsSquare Rolls Out Bitcoin Payments to 4 …^[3].

Square Bitcoin's integration underscores broader industry trends toward mainstream cryptocurrency adoption. As institutional and corporate interest in digital assets grows, Square's move positions it to capitalize on the evolving payments landscape, offering small businesses tools previously reserved for large corporationsSquare Brings Bitcoin to Main Street with First Integrated …^[1].