What happened?
Block’s Square launched Square Bitcoin, an integrated payments and wallet solution that lets more than four million U.S. merchants accept, convert, and hold Bitcoin directly in the Square dashboard. The service goes live November 10, 2025 with zero fees for the first year, instant settlement options in BTC or USD, and an option to auto-convert up to 50% of daily card sales, with rollout nationwide except New York. Block says the rollout will expand through 2026 pending approvals and noted early beta merchants have already accumulated over 140 BTC.
Who does this affect?
Primarily small and local businesses using Square — they now get a turnkey way to accept and manage Bitcoin without extra technical work. Customers who prefer paying with crypto and merchants looking to build Bitcoin reserves will benefit, while payment processors, crypto wallet providers, and competitors will face new pressure to respond. Investors and regulators are also impacted since the move pushed Block’s stock up and highlights lingering regional restrictions like those in New York.
Why does this matter?
This could speed mainstream crypto payments adoption by making Bitcoin payments as easy as card payments, which would raise on‑chain and off‑chain transaction volumes and merchant demand for BTC. Increased merchant demand and simple conversion tools can improve Bitcoin liquidity and positive price sentiment while creating new revenue and stickiness for Block, as seen in the stock bump after the announcement. It also forces rivals, card networks, and banks to accelerate their crypto integrations and could push regulators to clarify rules for broader payment use.