Square Unleashes 0% Fee Bitcoin Payments, Sending Block Stock To An 8-Month High

What Happened

Square, a subsidiary of Jack Dorsey’s Block Inc., announced a major step toward mainstream Bitcoin adoption on Wednesday with the launch of Square Bitcoin, a fully integrated payments and wallet solution that allows more than four million U.S. merchants to accept and manage Bitcoin directly within the Square ecosystem.

The launch, unveiled during the company’s Square Releases event, marks a major milestone in Block’s long-running Bitcoin strategy.

The announcement coincided with the Bitcoin Conference 2025 in Las Vegas, where Square demonstrated real-time Bitcoin payments through the Lightning Network at the BTC Inc. merchandise store.

Following the announcement, Block’s stock rose 2.5% to $81, its highest level since February, reflecting investor optimism around the company’s renewed Bitcoin push.

Tech companies and financial institutions are leading the shift. Google introduced its Agent Payments Protocol and added stablecoin support through a partnership with Coinbase, allowing seamless transactions between AI applications.

Market Context

The move comes amid a broader industry shift toward digital currency use in everyday commerce. Between 2024 and 2026, U.S. cryptocurrency payment users are projected to grow by more than 80%, according to market data cited by Square.

Block’s Bitcoin initiatives extend beyond payments. The company also operates Cash App’s Bitcoin trading feature, Bitkey, a self-custody Bitcoin wallet, and Proto, a suite of Bitcoin mining products.

Research firm eMarketer projects that U.S. crypto payment usage will rise 82% between 2024 and 2026, while surveys show consumers in the U.S. and U.K. increasingly view crypto as a practical payment method.

Why It Matters

The new feature will enable businesses to process Bitcoin payments starting November 10, 2025, with zero fees for the first year and instant settlement options in either Bitcoin or U.S. dollars.

Square said merchants can also automatically convert up to 50% of their daily card sales into Bitcoin, helping them diversify their savings without leaving the platform. The service will be available nationwide except in New York, where regulatory restrictions remain in place.

Details

Square Bitcoin Debuts, Letting Merchants Accept, Convert, and Hold BTC in One Platform

Square Bitcoin combines two core features, Bitcoin Payments and Bitcoin Conversions, alongside a built-in wallet that allows users to buy, sell, hold, and withdraw Bitcoin within their Square Dashboard.

Miles Suter, Head of Bitcoin Product at Block, described the rollout as a key moment in bridging traditional commerce with digital currency.

“We’re making Bitcoin payments as seamless as card payments while giving small businesses access to financial management tools that, until now, were exclusive to large corporations,” Suter said. “Square is uniquely positioned to make Bitcoin everyday money, not just a store of value.”

The company said the new system will simplify Bitcoin adoption for local businesses by removing the need for technical expertise and offering an all-in-one platform for both fiat and Bitcoin transactions.

Its open-source division, Spiral, funds development projects aimed at advancing Bitcoin’s use as a tool for economic empowerment.

Since the beta rollout of Bitcoin Conversions in 2024, participating merchants have collectively accumulated 142 Bitcoin as of October 1, 2025. Early adopters, such as California-based Pink Owl Coffee, have reported using the feature to build long-term reserves directly through daily sales.

Dorsey, who has championed Bitcoin integration for years, said on X that merchants will be able to choose whether to hold Bitcoin or auto-convert it to fiat instantly.

Block’s phased rollout will begin in late 2025 and expand to all eligible merchants by 2026, pending regulatory approval.

Crypto Payments Gain Momentum as Institutions, Tech Firms, and Regulators Align

The use of cryptocurrency for payments is seeing renewed growth, supported by friendlier regulations, corporate adoption, and technological advances.

Visa has begun testing cross-border payments funded with stablecoins through Visa Direct, while Mastercard continues to integrate crypto via on-ramp services and crypto-backed cards.

In real estate, Opendoor Technologies confirmed it will accept Bitcoin and other cryptocurrencies for home purchases, targeting crypto-wealthy buyers seeking tangible assets amid Bitcoin’s surge to $125,000.

Adoption is also rising globally. Bitget Wallet integrated Brazil’s Pix system, enabling crypto payments via QR codes, and Finastra partnered with Circle to connect banks to USDC settlements.