Block unveils Bitcoin wallet to accept BTC payments

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Ezequiel Gomes

09.10.2025

Block unveils Bitcoin wallet to accept BTC payments — Block launches Bitcoin wallet for business

Payments company Block Inc., founded by Jack Dorsey, has unveiled Square Bitcoin, a crypto-integrated wallet for small businesses using the Square point-of-sale (POS) system.

The launch enables U.S. merchants to accept Bitcoin (BTC) payments and automatically allocate a portion of daily revenue into BTC holdings, the company announced in a press release.

Key takeaways

- Block Inc. launches Square Bitcoin wallet for small businesses.

- Merchants can accept BTC payments and convert up to 50% of sales into Bitcoin.

- No processing fees until 2026; 1% fee starts in 2027.

- Block stock up 2.6% after the announcement.

Square Bitcoin aims to simplify BTC use for merchants

Starting November 10, merchants across the U.S. (excluding New York) will be able to receive Bitcoin payments directly through their Square dashboards, with the ability to convert up to 50% of daily takings into BTC. Users can manage, trade, or withdraw Bitcoin from their built-in wallets, with no processing fees until 2026. A 1% transaction fee will take effect from January 1, 2027.

Block’s Head of Bitcoin Product, Miles Suter, said the initiative aims to make Bitcoin payments “as seamless as card payments” while offering small businesses financial tools once reserved for large corporations. Block views the move as a key step toward making Bitcoin a mainstream, everyday currency.

Market reaction and broader implications for crypto adoption

Shares of Block (NYSE: XYZ) rose 2.6% on Wednesday following the announcement, according to Yahoo Finance. With over 4 million Square merchants, the new feature could significantly boost crypto payment adoption in the U.S. The company described the program’s goal as “Simplifying Bitcoin for Main Street.”

Block currently ranks 13th among public Bitcoin holders, with 8,692 BTC on its balance sheet. The firm’s initiative aligns with Dorsey’s long-term vision to integrate Bitcoin into the global financial ecosystem — from Cash App’s BTC trading to open-source Bitcoin mining projects aimed at cutting energy costs.

U.S. crypto payments projected to surge by 82% by 2026

According to eMarketer data cited by Square, U.S. crypto payment usage is expected to increase 82% between 2024 and 2026 as digital assets gain legitimacy and regulation becomes more supportive. A YouGov poll also indicates that consumers in the U.S. and U.K. increasingly view payments as one of the most practical uses for cryptocurrency.

As competitors like PayPal expand their crypto capabilities — enabling direct transfers of Bitcoin, Ether, and PYUSD — Block’s rollout of Square Bitcoin positions the firm to compete for leadership in the evolving crypto payments market.

It was earlier reported that Bitwise and 21Shares unveil first staking ETFs in U.S. market.

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