Square Bitcoin Debuts as Block’s First Fully Integrated Bitcoin Payments and Wallet Solution

Block is expanding Square’s platform with fee-free bitcoin payments, seamless crypto conversions, and integrated financial tools designed to help merchants grow, diversify, and streamline operations.

Square Bitcoin Integrates Zero-Fee Payments and Bitcoin Conversion for Merchants

Block Inc. (NYSE: SQ) is strengthening bitcoin’s presence in everyday commerce with new financial tools aimed at small and local businesses. The company announced on Oct. 8 the launch of Square Bitcoin, which it described as “the first fully integrated bitcoin payments and wallet solution – built for local businesses of all sizes.”

The launch underscores Block’s strategy to make digital assets an accessible part of business operations, allowing sellers to manage traditional and crypto finances within a single platform. “Consisting of Bitcoin Payments and Bitcoin Conversions,” the company detailed:

Square Bitcoin enables sellers to accept bitcoin payments with zero processing fees, automatically convert card sales into bitcoin, and manage their bitcoin alongside their other business finances – all within the Square ecosystem.

Pink Owl Coffee owner Joe Carlo said the new tools simplify wealth building for small merchants, noting that his café built reserves during the beta period by converting a portion of daily sales into bitcoin. Merchants testing the system collectively accumulated 142 bitcoin as of Oct. 1, and sellers can process bitcoin payments fee-free for the first year.

Block said the new offering fits naturally within its broader seller ecosystem:

Square Bitcoin represents the natural evolution of Square’s extensive platform of commerce and banking solutions, giving sellers expanded optionality for not only how they make a sale, but also how they manage their costs and diversify their finances.

Miles Suter, Head of Bitcoin Product at Block, added that the company aims to make bitcoin payments “as seamless as card payments” while equipping small enterprises with advanced financial tools. Bitcoin Conversions is now available, and Bitcoin Payments will launch for eligible U.S. sellers on Nov. 10.