Square, the payments platform of Block, has begun rolling out Bitcoin payments at its point-of-sale terminals for eligible US sellers, with the automatic feature going live today as part of a phased rollout over the coming month.
The announcement was shared Monday in a post on X by Miles Suter, Bitcoin product lead at Block, and reposted by CEO and longtime Bitcoiner Jack Dorsey.
Suter said the feature is designed to make it easier for “millions of businesses” to accept Bitcoin, adding that eligible US sellers will have payments automatically enabled and will receive US dollars by default when customers pay in Bitcoin (BTC). Merchants will also have the option to automatically “stack” Bitcoin from daily sales.
He described the move as a step toward using “Bitcoin as everyday money.” Bitcoin payment acceptance is expected to be available to all Square merchants by Nov. 10.
Source: Miles Suter
In a separate post, Square said transactions will convert instantly to cash at checkout, require no additional setup, and offer near-instant settlement. The company added that merchants do not need to hold Bitcoin and that the feature will carry zero processing fees through 2026.
According to Square’s website, the feature is currently available to US sellers that meet verification requirements, excluding businesses based in New York.
The rollout, which could lower barriers to Bitcoin payments by removing volatility and custody risk for millions of merchants, was first outlined by Block in May.
According to BitcoinTreasuries.net data, Block ranks as the 14th-largest publicly traded holder of Bitcoin, with 8,883 BTC on its balance sheet at an average cost of $32,939 per coin.
Source: BitcoinTreasuries.NET
Related: Strategy pushes pause button on Bitcoin purchases, stock sales
Bitcoin-backed lending grows across crypto and traditional finance
Beyond payments and its role as a store of value, Bitcoin is increasingly being used in lending and broader financial infrastructure.
In January, Nexo launched a zero-interest lending product allowing Bitcoin and Ether (ETH) holders to borrow against their assets through fixed-term loans with predefined repayment conditions.
The offering builds on a structured model previously limited to its private and OTC channels, which facilitated more than $140 million in borrowing in 2025, according to the company.
The same month, 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, and in February, Kraken followed with fixed-rate crypto loans for Pro users, offering borrowing against digital assets at rates of 10%–25% APR for terms of up to two years.
Traditional finance is also beginning to incorporate Bitcoin and crypto-backed credit. US mortgage lender Rate recently launched a program allowing borrowers to use verified cryptocurrency holdings to meet mortgage underwriting requirements without liquidating their assets.
Last week, Coinbase and Better Home & Finance introduced a structure that lets borrowers pledge crypto as collateral for loans used to fund down payments on Fannie Mae–compliant mortgages.
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