Square Launches Payment and Wallets To Allow Merchants To Accept BTC With 0% Fee

Square, the payments processor owned by Jack Dorsey’s Block Inc., has launched a new service that will allow merchants to accept Bitcoin (BTC) with 0% fees. The service, Square Bitcoin, is the first fully integrated BTC payments and wallet option, built to meet the needs of local businesses of all sizes.

Square Rolls Out Tool for Bitcoin Transactions Without Fees

On October 8, Square announced the launch of a new feature that will enable local businesses to accept Bitcoin at the point of sale. The new Square Bitcoin feature will allow local businesses to accept cryptocurrencies in an integrated wallet. 

Merchants will be able to store their Bitcoin in a wallet that can be accessed using their current Square dashboard, as well as buy, sell, or withdraw the asset using Bitcoin. Per the releases, businesses using Square can enable this feature on their Dashboard and start receiving Bitcoin payments instantly. 

Square adds that the introduction of Square Bitcoin will help businesses reduce their costs and support smoother financial operations. From November 10, 2025, Square Bitcoin will also allow merchants to accept Bitcoin payments and automatically convert up to 50% of their daily sales revenue into Bitcoin. 

As part of the launch, Square announced that no processing fee will be charged through 2026. On January 1, 2027, a 1% transaction fee will take effect. Until then, merchants can transact with Bitcoin with 0% transaction fees.

Square is Pushing for the Mainstream Adoption of Bitcoin

Because all Square Bitcoin is integrated into the platform that merchants already use, they can enjoy financial diversification while having simplified access to digital assets. Head of Bitcoin Product at Block, Miles Suter, said that the aim is to “bring economic empowerment through accessible financial tools.” 

Square’s latest offering is designed to make Bitcoin payments as seamless as possible while placing digital currency tools in the hands of small businesses. The combined experience is such that merchants can handle fiat and Bitcoin transactions on the same interface.

By giving businesses of all sizes easy access to Bitcoin, Suter explains that it is part of his company’s plans to make Bitcoin everyday money, not just a store of value.

For now, the new service is restricted to U.S. sellers, not including New York State, and it is not accessible to global merchants. Its launch might be a major move toward wider crypto usage since over 4 million merchants are customers of the Square payments platform, according to company data reports.

While a wider rollout of Square Bitcoin hasn’t been announced yet, the push for the adoption of Bitcoin by Square is unsurprising. The company had already indicated that it intended to introduce the service by 2026, and the move will be consistent with the overall crypto strategy of Block Inc. and the long-term vision of its CEO, Jack Dorsey, a longtime Bitcoin advocate.

Regulations To Further Bitcoin’s Entry Into Main Street

Square’s push for wider Bitcoin adoption is helped by friendlier regulations in the United States. With the Donald Trump administration looking to establish the U.S. as the global crypto hub, Research firm eMarketer has projected that U.S. crypto payment usage will rise 82% between 2024 and 2026.