Overview
- Payments route over the Lightning Network for near-instant settlement with no chargebacks, integrated directly into Square’s existing point-of-sale.
- Merchants can accept in BTC or USD, choose to hold or auto-convert funds, and set automated conversions including up to 50% of daily sales.
- Block is waiving processing fees on Bitcoin transactions until 2027, with controls available from the standard Square dashboard.
- The rollout reaches roughly 4 million sellers and is available across the U.S. except in New York, where regulatory hurdles persist.
- The launch follows October’s Compass Coffee pilot, and U.S. tax treatment of everyday crypto spending remains a key obstacle to broader consumer use.