Square launches integrated bitcoin payments solution for businesses

Square introduced Square Bitcoin, a payment and wallet solution that allows local businesses to accept bitcoin payments and convert card sales to bitcoin. The service consists of Bitcoin Payments and Bitcoin Conversions, integrated within Square's existing business platform.

Bitcoin Payments enables sellers to accept bitcoin at their point-of-sale with zero processing fees for the first year, after which fees will be 1% per transaction starting January 2027. Bitcoin Conversions allows businesses to automatically convert up to 50% of daily card sales into bitcoin for savings diversification.

The solution includes a Bitcoin Wallet built into Square's dashboard, where sellers can buy, sell, hold, and withdraw bitcoin alongside their other business finances. Square reports that sellers using Bitcoin Conversions in beta have accumulated 142 bitcoin as of October 1, 2025.

"By using Bitcoin Conversions in beta, we've built a strong financial reserve for Pink Owl over the past two years, right from the same platform we use to make sales, run payroll, and manage inventory," said Joe Carlo, owner of Pink Owl Coffee.

The announcement was made during Square's biannual product launch event. Square Bitcoin is not available to sellers in New York State or outside the United States, and availability may be subject to regulatory approval in some locations.

Bitcoin Conversions is available to eligible US-based sellers, while Bitcoin Payments will launch on November 10, 2025. Square is a subsidiary of Block Inc. (NYSE: SQ), which also operates Cash App and other bitcoin-related services.

The press release cited EMARKETER data projecting 82% growth in US cryptocurrency payment users between 2024 and 2026.

You May Also Be Interested In