Square, the payments platform operated by Block, has begun a phased rollout of Bitcoin payments at its point-of-sale terminals for eligible sellers in the United States. The feature went live and is expected to reach all Square merchants by November 10. The announcement was shared on X by Miles Suter, Bitcoin product lead at Block, and reposted by Block CEO Jack Dorsey.
Suter described the feature as a way to make it easier for millions of businesses to accept Bitcoin as a form of payment. Eligible US sellers will have the option automatically enabled, with transactions settling in US dollars by default when customers pay in Bitcoin. Merchants who prefer to retain exposure to the asset can also choose to automatically accumulate Bitcoin from their daily sales.
Square stated that transactions convert to cash instantly at checkout, require no additional configuration, and carry near-instant settlement. The company confirmed that merchants are not required to hold Bitcoin at any point. Notably, the feature will come with zero processing fees through 2026, lowering the cost barrier for businesses considering adoption.
The rollout is currently available to US sellers who meet verification requirements, with the exception of businesses based in New York. By removing volatility risk and the need for merchants to manage custody of digital assets, the feature addresses two of the most commonly cited obstacles to Bitcoin acceptance at the retail level. Block first outlined the plan in May of this year.
Block itself holds a significant position in Bitcoin. According to data from BitcoinTreasuries.net, the company ranks as the 14th-largest publicly traded holder of the asset, with 8,883 BTC on its balance sheet at an average acquisition cost of $32,939 per coin.
Beyond retail payments, Bitcoin is seeing broader integration into financial products and lending infrastructure. In January, Nexo launched a zero-interest lending product allowing Bitcoin and Ether holders to borrow against their holdings through fixed-term loans with predefined repayment terms. The offering expanded on a structured model previously confined to private and over-the-counter channels, which facilitated more than $140 million in borrowing in 2025, according to the company.
Also in January, Coinbase reintroduced Bitcoin-backed loans in the United States, enabling users to borrow up to $100,000 in USDC against BTC held on the platform. The following month, Kraken introduced fixed-rate crypto loans for its Pro users, offering borrowing against digital assets at annual rates between 10% and 25% for terms of up to two years.
Traditional finance is also beginning to incorporate crypto-backed credit structures. US mortgage lender Rate launched a program allowing borrowers to use verified cryptocurrency holdings to satisfy mortgage underwriting requirements without selling their assets. Separately, Coinbase and Better Home & Finance introduced an arrangement enabling borrowers to pledge crypto as collateral for loans used to fund down payments on Fannie Mae-compliant mortgages.
Originally reported by CoinTelegraph.
