Jack Dorsey’s Square auto-enables bitcoin payments for millions of U.S. businesses
The new rollout converts BTC to dollars by default for small businesses, aiming to embed bitcoin into everyday commerce without added friction.
What to know:
- Square has begun automatically enabling bitcoin payments for millions of eligible U.S. sellers, instantly converting transactions to dollars at checkout with no processing fees through 2026.
- The new feature removes merchants’ exposure to bitcoin price volatility and custody issues by defaulting settlement to U.S. dollars while integrating directly into existing Square payment systems.
- Industry leaders, including Lightspark CEO David Marcus, say the move could mark a pivotal step toward bitcoin becoming foundational financial infrastructure, akin to TCP/IP’s standardization of data transfer on the internet.
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Jack Dorsey’s Square on Monday announced it began automatically enabling bitcoin payments for millions of eligible U.S. small businesses, marking one of the most aggressive pushes yet to integrate crypto into mainstream commerce.
The Block (XYZ) subsidiary said businesses can now accept bitcoin with no additional setup requirements and with transactions instantly converted into U.S. dollars at checkout. The feature includes near-instant settlement and zero processing fees through 2026, it added.
“Automatically enabled bitcoin payments are rolling out to eligible U.S. Square sellers,” the company wrote on its X post.
“Start accepting bitcoin that instantly converts to cash at checkout, with no additional setup.” The roll-out builds on Square’s broader “Square Bitcoin” initiative announced recently, but signals a significant change, as bitcoin acceptance is now being integrated directly into existing payment systems instead of needing merchants to activate it.
Merchants who accept bitcoin for the goods and services they are selling will receive U.S. dollars by default, removing exposure to price volatility and eliminating the need for custody or accounting changes, the company has said in previous statements.
