November 11th• 3 min read
Block Lets 4 Million Square Sellers Accept Bitcoin at Checkout
Block has enabled Bitcoin payments for around 4 million merchants using its Square seller platform, letting them accept BTC and settle via the Lightning Network. Sellers will pay no transaction fees on these Bitcoin payments until 2027.
Key takeaways
🛒 Massive reach: Around 4 million merchants now can accept Bitcoin using Square’s checkout system.
⚡ Instant settlement: Payments process over Bitcoin’s Lightning Network for faster, cheaper transactions.
💲 Fee waiver: No processing fees for Bitcoin payments through this system until January 1, 2027.
🔄 Conversion flexibility: Merchants can choose to hold BTC, convert to fiat, or split revenue automatically.
🧩 Big for adoption: This move could significantly increase Bitcoin’s real‑world utility in everyday commerce.
Deep dive
By opening up Bitcoin acceptance to millions of merchants via its Square system, Block is positioning Bitcoin not just as a speculative asset but as everyday money.
The use of the Lightning Network accelerates settlement and lowers costs for both sellers and buyers.
The fee waiver through 2027 removes a big barrier to merchant uptake.
Allowing automatic conversion or holding of BTC gives businesses strategic flexibility—whether they want exposure to Bitcoin or prefer immediate fiat liquidity.
From an ecosystem perspective, this could help shift Bitcoin’s image toward practical use, but uptake will depend on consumer demand, merchant behavior, and how smooth the checkout experience proves to be.
Polaris insights AI-generated
Disclaimer: This article may contain content generated or assisted by AI, based on information from public sources. While we aim for accuracy, no content should be taken as financial or trading advice. Always do your own research and consult a professional before making investment decisions. Markets are volatile and involve risk.
