Square, the payment service operated by Block, has initiated the rollout of Bitcoin payments at its point-of-sale terminals for qualifying sellers in the United States. This automatic feature is set to go live today as part of a gradual implementation process over the next month.
The news was announced on Monday via a post on X by Miles Suter, who leads Bitcoin product development at Block. The announcement was also shared by CEO Jack Dorsey, a well-known advocate for Bitcoin.
Suter explained that this new feature aims to simplify the process for “millions of businesses” looking to accept Bitcoin. He noted that eligible US sellers will have this payment option automatically activated and will receive US dollars as default when customers make payments using Bitcoin ($BTC). Additionally, merchants can choose to automatically accumulate Bitcoin from their daily sales.
This initiative is seen as a significant move towards integrating “Bitcoin into everyday transactions.” All Square merchants are expected to have access to this payment acceptance feature by November 10.
In another update, Square mentioned that transactions would be converted instantly into cash during checkout without requiring any extra setup and would provide near-instant settlement times. Furthermore, merchants won’t need to hold onto any Bitcoin themselves and there will be no processing fees associated with this service until 2026.
As per information available on Square’s website, this functionality is currently accessible only to US sellers who meet specific verification criteria; however, it excludes businesses located in New York.
This rollout could significantly reduce barriers for many merchants considering accepting Bitcoin payments by eliminating volatility and custody risks. The plan was initially revealed by Block back in May.
According to data from BitcoinTreasuries.net, Block ranks as the 14th largest publicly traded holder of Bitcoins with an impressive total of 8,883 $BTC, acquired at an average cost of $32,939 each.
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The Rise of Lending Backed By Bitcoin Across Financial Sectors
Apart from its use in transactions and as a store of value, there’s been growing adoption of Bitcoin within lending practices across both cryptocurrency markets and traditional finance sectors.
Nexo introduced a zero-interest lending option earlier this year which allows holders of both Bitcoin and Ether (ETH) to borrow against their assets through fixed-term loans with established repayment terms. This offering expands upon models previously restricted mainly to private channels or over-the-counter deals that facilitated borrowing exceeding $140 million in 2025 according to company reports.
<pSimilarly during January Coinbase reintroduced loans backed by Bitcoins within the United States enabling users access up-to $100K worth in USDC against $BTC. In February Kraken followed suit providing fixed-rate crypto loans tailored specifically for Pro users allowing them borrowing against digital assets at interest rates ranging between 10%–25% APR over periods extending up-to two years.
Traditional financial institutions are also beginning embracing crypto-backed credit solutions such as Rate—a mortgage lender based out-of-the USA—who recently unveiled programs permitting borrowers utilize verified cryptocurrency holdings meeting underwriting standards without needing liquidate those assets.
Last week Coinbase alongside Better Home & Finance launched structures enabling borrowers pledge cryptocurrencies serving collateral securing funds utilized covering down-payments related Fannie Mae compliant mortgages.
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