Block Inc. Launches Bitcoin Payments For Square Merchants: Jack Dorsey

Jack Dorsey’s Block Inc. has officially launched Bitcoin payment capabilities for over 4 million Square merchants worldwide, enabling instant, fee-free transactions until 2027.

The rollout, announced by Dorsey on X, allows merchants to accept Bitcoin directly through their Square dashboard, with options to settle in Bitcoin or fiat currency, and includes an auto-conversion tool for up to half of daily revenue.

Merchants can now accept Bitcoin via QR code at checkout, with no additional hardware required, as the system integrates with existing Square point-of-sale terminals.

A map of all global merchants that accept Bitcoin, including those using Bitcoin Square, can be found inside Cash App as well.

This marks a significant step in integrating Bitcoin into mainstream commerce, leveraging the Bitcoin blockchain and Lightning Network for fast, secure, and transparent settlements.

"Our sellers can now receive btc to btc, btc to fiat, fiat to btc, or fiat to fiat," Dorsey announced on X.

“Square Bitcoin is the first fully integrated Bitcoin payments and wallet solution for businesses that will enable sellers to accept Bitcoin payments and automatically convert sales into Bitcoin,” he wrote in his firm’s third-quarter shareholder letter.

The zero-fee period until 2027 is a strategic move to encourage adoption, after which a 1% fee will be introduced—significantly lower than typical credit card processing fees of 2.5% to 3.5%.

The feature was first announced in May 2025 at the Bitcoin 2025 conference, where Block demonstrated Bitcoin payments at a merchandise store using the Lightning Network.

“We’re making Bitcoin payments as seamless as card payments while giving small businesses access to financial management tools that, until now, have been exclusive to the largest corporations,” said Block’s Head of Bitcoin Product Miles Suter, in an October statement announcing the product.

“Through Square and Cash App, we serve both sides of the counter, meaning Square is uniquely positioned to make Bitcoin everyday money, not just a store of value—while also helping sellers future-proof their operations,” he added.

As part of that push, Dorsey has been calling for a de minimis tax exemption on everyday Bitcoin transactions after a legislative effort fell short months ago. In other words, the Block CEO and X co-founder is hoping American users will not need to report small crypto transactions as capital gains.

Block Inc. has released other Bitcoin products as well. Last year, it launched a self-custody hardware wallet called BitKey, and its Cash App—a Venmo or PayPal rival—allows users to buy, sell, and transfer Bitcoin. The company has also expanded its Bitcoin infrastructure, including ownership of over 8,000 BTC, reinforcing its long-term vision of making Bitcoin "everyday money."

Despite mixed third-quarter earnings—$0.54 per share, below analyst forecasts—Square’s gross payment volume grew 12% year-over-year, indicating strong merchant adoption.

The launch coincides with Bitcoin trading around $105,000, reflecting growing institutional confidence in its role within global finance. Shares of Block (XYZ) are up about 0.5% on Monday, changing hands at $65.80. Bitcoin has gained about 1.7% in the last 24 hours, now trading at $105,456.