KEY FACTS: Square, under Jack Dorsey’s Block, has enabled over 4 million merchants across eight countries to accept Bitcoin payments via its point-of-sale system with zero fees until 2027, offering flexible conversion options (Bitcoin-to-Bitcoin, Bitcoin-to-fiat, fiat-to-Bitcoin, or fiat-to-fiat) and building on an earlier tool that auto-converts daily card sales into Bitcoin; Dorsey promoted the launch on X alongside a live global map of Bitcoin-accepting sellers, while early users like Zaprite’s Parker Lewis and CitizenX’s Katie Ananina praised its seamless onboarding, marking a major step toward mainstream Bitcoin use in everyday commerce.
Source: Square
Jack Dorsey's Square Revolutionizes Payments as 4 Million Merchants Now Accept Bitcoin
Jack Dorsey's payment powerhouse Square, now operating under its parent company Block, has rolled out a Bitcoin payment feature for its vast network of merchants. This initiative, which opens the doors for over four million sellers worldwide to seamlessly integrate cryptocurrency into their daily transactions, marks a pivotal step toward mainstream adoption of Bitcoin as a viable payment method. Coming on the heels of months of anticipation, the launch showsDorsey's commitment to Bitcoin as a tool for financial sovereignty and a hedge against traditional currency volatility.
The announcement, which broke just this week, has charged the fintech and cryptocurrency communities. Square, renowned for its user-friendly point-of-sale (POS) terminals that have democratized payments for small businesses, is now bridging the gap between fiat currencies and digital assets like never before. Merchants can opt in to accept Bitcoin payments directly at checkout, with the system supporting a flexible array of conversion options: Bitcoin to Bitcoin, Bitcoin to fiat, fiat to Bitcoin, or even fiat to fiat. This versatility ensures that sellers are not forced into a rigid framework but can tailor their approach to suit their operational needs.
This rollout features Square's Bitcoin wallet solution, which was first teased back in October as part of a strategy to embed cryptocurrency deeper into its ecosystem. The feature builds on an earlier innovation, a conversion tool that allows merchants to automatically allocate a portion of their daily credit card sales into Bitcoin holdings. That tool, aimed at encouraging gradual exposure to crypto without disrupting cash flow, was positioned as a low-risk entry point for businesses wary of diving headfirst into volatile markets. Now, with the full payment integration live, Square is accelerating its timeline, having originally projected a complete rollout by 2026. The decision to fast-track appears driven by surging demand and positive feedback from beta testers, signaling a readiness in the market that even Square's innovators may not have fully anticipated.
Jack Dorsey, the Twitter co-founder turned Block CEO, wasted no time in championing the development on his personal X (formerly Twitter) account. In a series of posts that quickly garnered thousands of likes and retweets, Dorsey laid out the practical implications for merchants. He spotlighted a new interactive live map—developed in collaboration with Block's peer-to-peer payments arm, Cash App, that pinpoints Bitcoin-accepting merchants across the globe. Dorsey urged his followers, thus:
"Convince your local Square sellers to enable Bitcoin acceptance for zero fees,"... "Hold Bitcoin to better survive dollar debasement."
Dorsey's words carry extra weight given his status as one of Bitcoin's most vocal proponents. A self-described "Bitcoin maximalist," he has long advocated for the cryptocurrency's role in empowering individuals and businesses against centralized financial systems. In recent months, Dorsey has doubled down on this vision, even pushing for policy changes like tax exemptions on everyday Bitcoin transactions to further lubricate its use as tender. This latest move from Square aligns seamlessly with that philosophy, positioning the company not just as a payment processor but as a catalyst for economic decentralization.
The scale of Square's reach amplifies the significance of this launch. With operations spanning eight countries, including the United States, France, the United Kingdom, and Japan, the platform serves more than four million active sellers. These range from bustling urban coffee shops to remote rural vendors, all united by Square's plug-and-play hardware that turns smartphones into sophisticated POS systems. By making Bitcoin accessible through this network, Square is effectively injecting cryptocurrency into the veins of everyday commerce.
One of the most appealing aspects of the feature is its cost structure, designed to lure merchants with an unbeatable value proposition. Until 2027, Square is waiving all fees associated with Bitcoin transactions, a bold gambit that undercuts the 1.5% to 4% processing charges typical of credit card networks. Post-2027, fees are slated to begin at a modest 1%, still a bargain in an industry notorious for its hidden costs. This fee-free honeymoon period is expected to drive rapid adoption, especially among cash-strapped small businesses still reeling from post-pandemic economic pressures. Analysts suggest it could mirror the explosive growth Square saw in its early days, when low barriers to entry propelled it from a startup to a multibillion-dollar behemoth.
Early adopters are already singing praises, providing real-world testimonials that highlight the feature's ease of use and transformative potential. Parker Lewis, head of business development at Zaprite, a platform specializing in Bitcoin and fiat payments, shared his firsthand experience on X. After purchasing a bag of beans from Medici, a renowned Texas coffee roaster, Lewis declared it "a great day for Square merchants and Bitcoin." He emphasized how the integration streamlines what was once a clunky process, allowing seamless transitions without the need for third-party gateways or extensive technical know-how.
Similarly, Katie Ananina, chief marketing officer at tech platform CitizenX, claimed the distinction of being the first to pay with Bitcoin at the same Medici location, noting that onboarding merchants to accept Bitcoin was previously painful, requiring educating them extensively, dealing with wallet setups, and navigating compliance hurdles. Ananina hailed Square's rollout as "legendary," crediting it with drastically lowering the entry barrier. Her enthusiasm echoes a broader sentiment in the crypto space: that scalable, merchant-friendly tools like this could finally tip the scales toward widespread utility.
This launch arrives at a propitious moment for Bitcoin, buoyed by a confluence of macroeconomic and technological tailwinds. A July YouGov survey of 1,000 respondents across the U.S. and U.K. revealed that 37% now view payments as the foremost use case for cryptocurrencies, outpacing even speculative investment. This shift in perception—from Bitcoin as a "digital gold" to a practical medium of exchange—has been fueled by institutional endorsements, regulatory clarity in select markets, and innovations like the Lightning Network, which enable near-instant, low-cost transactions. Square's move capitalizes on this momentum, potentially onboarding millions of new users to the Bitcoin ecosystem overnight.
Looking ahead, Square has teased expansions that could further entrench Bitcoin in e-commerce. While the current iteration is limited to in-person POS transactions, online and invoicing capabilities are in active development, with "updates coming soon," according to company insiders. This phased approach allows Square to iron out kinks in a controlled environment while building hype for what's next. Meanwhile, Block has invested heavily in Bitcoin mining hardware and decentralized finance tools, hinting at a future where Square evolves into a full-spectrum crypto hub.
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