Jack Dorsey’s Square Now Lets Millions of Merchants Accept Bitcoin Payments

Highlights:

• Jack Dorsey launches Bitcoin payments through Square, which provides merchants with flexible settlement options worldwide.
• This new option offers instant settlement with zero fees until 2027, then one percent.
• Block utilizes the Lightning Network to facilitate fast and inexpensive Bitcoin payments.

Former Twitter CEO and current Block Inc. head, Jack Dorsey, has officially launched Bitcoin payment options for over 4 million merchants using Square. This update allows merchants to receive payments in Bitcoin, U.S. dollars, or a combination of both.

Flexible Bitcoin Payment Options for Merchants

Dorsey shared the news on X, stating, “Our sellers can now receive BTC to BTC, BTC to fiat, fiat to BTC, or fiat to fiat […] we have one in CashApp, all merchants (not just Square) worldwide that accept bitcoin.” Merchants now have flexibility in choosing settlement methods without facing extra complications. 

The feature allows instant settlement with zero fees until 2027, after which a 1% charge applies. This is considerably lower than standard credit card fees, which often range from 2.5% to 3.5%. Traders can activate the function directly from the Square dashboard.

our sellers can now receive btc to btc, btc to fiat, fiat to btc, or fiat to fiat. https://t.co/NnLsd3fgEb

— jack (@jack) November 10, 2025

Each Bitcoin transaction is limited to about $600. Sellers can receive up to $15,000 per day. Refunds cannot go back to Bitcoin because transactions are final. Instead, refunds are given as digital gift cards for the same USD amount.

As you receive bitcoin it will be stored in your Square bitcoin wallet. If you'd like to move it into self custody, you'll be able to do so manually (max $15k per day or $50k per week).

— Square (@Square) November 10, 2025

Block uses the Lightning Network to make Bitcoin fast and cheap. Merchants can get Bitcoin right away or change it to U.S. dollars automatically. All payments are on the blockchain, so they are safe and easy to check. Bitcoin payments do not have chargebacks like credit cards. This means payments cannot be reversed. It may feel less flexible, but it also makes fraud less likely. Millions of businesses, online shops, and big stores can now accept Bitcoin safely.

Jack Dorsey first said on April 3rd that Block would let people pay with Bitcoin. He said it would not be easy but promised, “not a simple flip, but we are doing it.” The company first launched its Square Bitcoin platform in October and soon tested it at Compass Coffee, a coffee shop in Washington D.C. Now, merchants around the world can accept Bitcoin.

“We’re making Bitcoin payments as seamless as card payments while giving small businesses access to financial management tools that, until now, have been exclusive to the largest corporations,” said Miles Suter, Block’s Head of Bitcoin Product, in an October statement.

Big moves today – just deployed the first Square terminal in the world accepting bitcoin.

Thank you @jack ! Cannot wait to see this come to Square devices worldwide soon.

Tested on a huge range of wallets, all worked seamlessly. The beauty of open standards. ⚡️

Thanks… pic.twitter.com/QxigKGIao7

— Compass Coffee (@CompassCoffeeDC) October 15, 2025

Block Reports Mixed Q3 Results While Expanding Bitcoin Investments

The news follows Block’s third-quarter results, which were mixed. Profits fell below Wall Street expectations, but payment volume grew 12% year-over-year, which showed strong user activity. Launching Bitcoin payments may help boost revenue by appealing to tech-savvy merchants. Block is investing a lot in Bitcoin and its ecosystem. Block currently holds approximately 8,780 Bitcoin on its balance sheet, as per data from BitcoinTreasuries.

Bitcoin’s market also shows signs of recovery. Prices rose about 1% to $104,830 in the last 24 hours, and trade volume jumped 3% to $70 billion, likely driven by large institutional buys. Strategy added 487 BTC, worth around $50 million, which marks its biggest purchase since September. The firm now holds 641,692 BTC.