Square Begins Bitcoin Payments for 4 Million Merchants

Square, the fintech firm co-founded by Jack Dorsey, has introduced a new feature allowing select merchants to accept Bitcoin payments directly through its point-of-sale systems.

In a tweet on Tuesday, Square confirmed that it has started onboarding merchants for its newly integrated Bitcoin payment feature. This marks another significant milestone in crypto’s journey toward mainstream retail adoption.

Merchants Accepting Bitcoin Payments Using Square

The rollout enables participating businesses to accept Bitcoin payments using Square’s existing point-of-sale (POS) terminals. Notably, transactions are processed through the Lightning Network, a second-layer protocol designed for speed and efficiency.

This initiative follows several months of internal development and testing. It enables merchants to either retain the payment in Bitcoin or instantly convert it to US dollars at the point of sale, according to their preference.

Notably, the feature runs on Square’s current hardware and software setup, requiring no additional devices or upgrades.

As a division of fintech conglomerate Block Inc., Square services more than 4 million sellers and processes over $200 billion in annual payments, the sheer scale of this merchant network gives the Bitcoin payment feature a strong platform for potential mass adoption.

For years, Bitcoin usage in retail has lagged behind growing institutional interest. This is largely due to high transaction fees, slow processing times, and price volatility.

However, Square’s new integration directly addresses these challenges by offering a near-instant, low-cost experience. It does this without the need for third-party apps or intermediary services.

The timing of the rollout aligns with a bullish crypto market. Bitcoin recently surpassed $118,000 amid strong demand from institutional investors and inflows into launched Bitcoin ETFs. Square’s move could help extend this momentum into the consumer space by enabling real-world spending.

Dorsey’s Long-Term Vision Nears Reality

Jack Dorsey, a longtime advocate for Bitcoin, has long promoted the cryptocurrency as a potential native currency for the internet. With this integration, he moves one step closer to realizing that vision, allowing Bitcoin to function not just as a store of value, but as a practical medium of exchange, just as outlined in Satoshi Nakamoto’s original whitepaper.

While the current deployment is limited, broader merchant access is expected in 2026. If the pilot proves successful, Square’s entry into crypto payments could catalyze wider adoption in the retail economy.