Square has launched Square Bitcoin, a fully integrated bitcoin payments and wallet solution designed for local businesses of all sizes, announced as part of its second Square Releases event.
The new offering comprises Bitcoin Payments, Bitcoin Conversions, and a native Bitcoin Wallet. Bitcoin Payments enables sellers to accept bitcoin with zero processing fees for the first year, providing an additional payment option for customers. Bitcoin Conversions allows businesses to automatically convert a specified percentage of their daily card sales into bitcoin, aiming to diversify long-term savings. The integrated Bitcoin Wallet functionality, built directly into the Square platform, supports buying, selling, holding, and withdrawing bitcoin alongside other business finances.
The introduction of Square Bitcoin addresses the growing utility and adoption of bitcoin in everyday commerce, with cryptocurrency payment users in the US projected to increase by 82% between 2024 and 2026. Joe Carlo, owner of Pink Owl Coffee, stated, “Years ago, bitcoin transformed how we think about building wealth, and Square is simplifying our ability to bring that mindset to our business.” He added that using Bitcoin Conversions in beta helped Pink Owl Coffee build a financial reserve over the past two years, directly from the same platform used for sales, payroll, and inventory.
Square Bitcoin represents an evolution of Square’s platform of commerce and banking solutions, offering sellers expanded choices for managing sales, controlling costs, and diversifying finances. Since the launch of Square Banking in 2021, Square has provided financial tools integrated with its ecosystem, enabling hundreds of thousands of sellers to improve cash flow and set aside billions in savings. Bitcoin Payments aim to help sellers manage costs with low-fee transactions and near-instantaneous settlement, allowing them to retain more of each sale and choose to hold earnings in bitcoin or USD. Bitcoin Conversions offers an automated approach to diversification, with the ability to convert up to 50% of daily sales into bitcoin. This feature was initially launched to a subset of businesses in 2024, and by October 1, 2025, sellers using it had accrued 142 bitcoin.
The development of Square Bitcoin builds on Block’s extensive experience in bitcoin innovation. Miles Suter, Head of Bitcoin Product at Block, noted, “The bitcoin tools we’re building at Square deliver on two critical needs: ensuring sellers never miss a sale, and giving them access to powerful financial tools that help them more easily manage and grow their finances.” He emphasized Square’s unique position to make bitcoin everyday money by serving both sides of the transaction through Square and Cash App, while also helping sellers future-proof their operations.
Block’s broader bitcoin ecosystem includes Cash App’s bitcoin capabilities, Bitkey (a self-custody bitcoin wallet), Proto (bitcoin mining products), and Spiral (open-source projects for economic empowerment through bitcoin). Bitcoin Conversions is currently available to eligible US-based sellers. Bitcoin Payments is scheduled for availability on November 10, 2025. Square Bitcoin functionality is not available to sellers in New York State or outside the U.
S. and may be subject to regulatory approval. Bitcoin’s value is subject to rapid change, and transactions may experience delays or technical issues. The 0% processing fee for bitcoin payments is a promotional offer valid through 2026, after which it will become 1% per transaction starting January 1, 2027. Bitcoin services are provided by Block, Inc., which is licensed where required, including by the New York State Department of Financial Services. Block, Inc. is not a bank; banking services are provided by Square Financial Services, Inc. or Sutton Bank, Members FDIC.
