Square Launches Bitcoin Payment Tools for Small Businesses

CN
coindesk
Follow
2 hours ago


Square, the payment services arm of Block (XYZ), has launched a new set of tools aimed at making bitcoin (BTC) easier to use for small businesses, letting sellers accept crypto payments and manage their digital assets alongside traditional finances, the company announced Wednesday.

The offering, called Square Bitcoin, includes three main features: bitcoin payments, automatic bitcoin conversions from card sales, and a native bitcoin wallet built into Square’s seller platform. Sellers will be able to accept bitcoin with no processing fees for the first year and choose to convert up to 50% of their daily sales into bitcoin automatically. The tools are available to eligible U.S. businesses, with bitcoin payments rolling out November 10.

The announcement reflects a broader trend. Crypto payments in the U.S. are expected to grow 82% between 2024 and 2026, according to data cited in the release. But so far, access to bitcoin has mostly focused on investors or tech-savvy individuals. Square’s move aims to bring that access to Main Street.

In practice, the tools could let a local coffee shop accept a bitcoin payment from a customer using a phone wallet, convert half their day’s sales into bitcoin automatically, and review all their finances in the same dashboard they use to manage inventory and payroll. According to Square, 142 bitcoin have already been accumulated through early use of the conversion feature, first piloted in 2024.

By folding bitcoin into its existing payments and banking ecosystem, Square — a subsidiary of Block (SQ) — is trying to lower the barrier to entry for small businesses to participate in the crypto economy. It’s also a continuation of Block’s long-running focus on bitcoin, which spans retail tools like Cash App and hardware initiatives like its Bitkey wallet and Proto mining products.

Miles Suter, head of bitcoin product at Block, said the tools are designed to help sellers “never miss a sale” while giving them access to financial tools that have typically been out of reach.

“We’re making bitcoin payments as seamless as card payments,” he said in a statement.




免责声明:本文章仅代表作者个人观点,不代表本平台的立场和观点。本文章仅供信息分享,不构成对任何人的任何投资建议。用户与作者之间的任何争议,与本平台无关。如网页中刊载的文章或图片涉及侵权,请提供相关的权利证明和身份证明发送邮件到support@aicoin.com,本平台相关工作人员将会进行核查。

Share To
APP

X

Telegram

Facebook

Reddit

CopyLink