Overview
- Square’s Bitcoin payments are now live for roughly 4 million merchants, enabling Lightning-based BTC acceptance at in-person and online checkout.
- Transactions settle nearly instantly over the Lightning Network, and sellers can choose to receive funds in BTC or auto-convert to USD, with options to automate partial conversions.
- Square is waiving processing fees on Bitcoin payments during a promotional period, reported by outlets as lasting either through 2026 or until 2027.
- The broad rollout follows an October pilot at Compass Coffee in Washington, D.C., and excludes New York at launch due to regulatory hurdles.
- The launch builds on Block’s Bitcoin ecosystem, including Cash App trading and the BitKey wallet, alongside a corporate reserve reported at over 8,000 BTC.