A new feature launched by Square, a payment processing company owned by Jack Dorsey's Block Inc., enables local businesses to accept Bitcoin at the point of sale and store this digital asset in an integrated wallet—an initiative that could help advance the use of Bitcoin as a medium of exchange.
On Wednesday, Square announced its new Bitcoin service, allowing merchants to accept Bitcoin payments and automatically convert a portion of their sales into BTC. Square will waive processing fees until 2026, with a 1% transaction fee set to take effect on January 1, 2027.
Merchants can store their Bitcoin in a dedicated wallet accessible through Square's existing dashboard, where they can also buy, sell, or withdraw the asset. The service is only available to sellers in the U.S., excluding New York State, and is not open to international merchants.
According to company data, over 4 million merchants use Square's payment platform, and this launch could mark a significant step toward broader cryptocurrency adoption.
It is not surprising that Square is embracing Bitcoin. The company had previously announced plans to launch this service by 2026, aligning with Block Inc.'s broader cryptocurrency strategy and CEO Jack Dorsey's vision, who is a long-time advocate for Bitcoin.
Dorsey has previously integrated Bitcoin trading and payments into Block's peer-to-peer payment service, Cash App, and has led efforts to develop an open-source Bitcoin mining system to reduce costs in the energy-intensive mining industry.
According to industry data, Block Inc. currently holds 8,692 BTC on its balance sheet, making it the 13th largest publicly traded Bitcoin holder in the world.
With a more favorable regulatory environment in the U.S. and increasing recognition of digital assets as a legitimate asset class, the use of cryptocurrency in payments is regaining focus.
Square cites research from eMarketer indicating that the use of cryptocurrency payments in the U.S. is expected to grow by 82% between 2024 and 2026, reflecting a resurgence in the industry.
A recent YouGov survey found that consumers in the U.S. and the U.K. increasingly view payments as a primary use case for cryptocurrency. The study also noted that advancements in artificial intelligence could accelerate adoption, as emerging AI tools integrate financial and transactional capabilities.
This aligns with a broader trend where AI agents are expected to accept and initiate cryptocurrency transactions, particularly using stablecoins. Google's newly announced Agent Payments Protocol aims to facilitate this shift, positioning cryptocurrency as a key component of the AI-driven economy.
Meanwhile, payment giant PayPal is expanding its peer-to-peer cryptocurrency services, allowing users to send and receive payments using Bitcoin, Ethereum (ETH), and its dollar-pegged stablecoin PYUSD (PYUSD).
Related: VanEck: As gold prices soar, Bitcoin (BTC) could reach $644,000 post-halving in 2028
Original article: “As Cryptocurrency Adoption Accelerates, Square Offers Bitcoin (BTC) Payment Services for Merchants”
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。
