Square Turns on Bitcoin Payments by Default for Millions of U.S. Merchants

Square, the payments company founded by Jack Dorsey, has started automatically activating Bitcoin payment acceptance for millions of merchants in the United States, CoinDesk reported, citing ChainCatcher. At checkout, Bitcoin payments are converted immediately into U.S. dollars, allowing merchants to accept BTC without additional setup while avoiding crypto price volatility and custody-related risks. Square said the rollout offers near-instant settlement and will waive processing fees through 2026. The company described the move as a meaningful step toward bringing Bitcoin into everyday commerce, with merchants continuing to receive dollars by default and keeping existing accounting practices intact without holding crypto assets. Square's merchant base is reported to be 78% in the U.S. and 22% in international markets. Separately, PayPal previously expanded distribution of its U.S. dollar stablecoin, PYUSD, to tens of thousands of users across its 70 global markets, supporting broader adoption of digital payments.