Square Launches Integrated Bitcoin Wallet and Payment System for Merchants

Square, the payments platform under Jack Dorsey and Block Inc., unveiled its new Bitcoin solution on Wednesday, marking a significant step toward mainstream cryptocurrency adoption for small businesses. The product, known as Square Bitcoin, equips merchants with tools to accept Bitcoin payments directly at the point of sale while managing digital assets through a built-in wallet. Business owners can now process these transactions alongside traditional card payments, with the company waiving all processing fees for the first year to encourage widespread use.

This launch expands on Square’s earlier Bitcoin features, where merchants could convert a portion of their daily sales into the cryptocurrency. Previously limited to smaller percentages, the updated system now allows conversion of up to 50% of revenue into Bitcoin, giving sellers greater control over their earnings. Since the initial program began, participating users have amassed 142 Bitcoins, currently valued at more than $17 million.

Streamlining Bitcoin Adoption for Businesses

The Square Bitcoin wallet integrates seamlessly into the company’s dashboard and mobile app, enabling merchants to buy, sell, hold, and withdraw Bitcoin with minimal effort. Payments settle instantly, either in Bitcoin or converted to U.S. dollars, ensuring cash flow remains uninterrupted during transactions. This design addresses common barriers to cryptocurrency use, such as complexity and integration challenges, by treating Bitcoin like any other payment method at the register.

Block Inc. co-founder Jack Dorsey has long championed Bitcoin’s potential to reshape global finance. He views the digital currency as a borderless and permissionless alternative to legacy systems dominated by large banks and processors. Under his leadership, Square aims to empower businesses to function more autonomously, essentially turning them into self-sufficient financial entities without reliance on intermediaries.

Miles Suter, head of Bitcoin product at Block, highlighted the practical benefits during the announcement. He noted that the tools ensure sellers capture every sale while unlocking advanced financial management options typically reserved for big corporations. Suter emphasized Square’s unique position, serving both merchants and consumers through platforms like Cash App, to normalize Bitcoin as everyday currency rather than a speculative asset.

The no-fee incentive runs through the end of 2026, after which a modest one percent processing charge will apply to Bitcoin transactions. This structure reflects Square’s commitment to gradual onboarding, allowing time for merchants to adapt without immediate cost pressures. Early adopters report smoother operations and expanded customer bases, particularly among tech-savvy demographics drawn to crypto options.

Looking ahead, the rollout aligns with rising demand for digital payments. Analysts project that 7.1 million Americans will use cryptocurrency for purchases by 2026, up from current levels. Square’s initiative positions it to capture a share of this growth, especially as Bitcoin’s volatility stabilizes and regulatory clarity improves in key markets.

Dorsey’s advocacy dates back years, with Block investing heavily in Bitcoin infrastructure, including hardware wallets like Bitkey and Bitcoin mining operations. The company’s ecosystem now spans consumer tools and enterprise solutions, all centered on democratizing access to sound money principles. For merchants, this means not just accepting payments but actively participating in a decentralized economy that prioritizes speed and sovereignty.