Jack Dorsey's Square, a subsidiary of Block, announced Monday that it has begun automatically enabling bitcoin payments for millions of eligible U.S. small businesses — one of the most aggressive pushes yet to bring crypto into mainstream commerce.
Merchants need no additional setup to accept bitcoin, with transactions instantly converted to U.S. dollars at checkout. The feature includes near-instant settlement and zero processing fees through 2026. Square posted on X: “Automatically enabled bitcoin payments are rolling out to eligible U.S. Square sellers. Start accepting bitcoin that instantly converts to cash at checkout, with no additional setup.”
No-Setup Activation, No Volatility Exposure
The rollout builds on Square's earlier “Square Bitcoin” initiative but marks a significant shift — bitcoin acceptance is now integrated directly into existing payment systems instead of requiring merchants to opt in. Sellers receive dollars by default, eliminating exposure to price volatility and removing the need for custody or accounting changes.
Miles Suter, Block's head of bitcoin product, said on X: “We’re making it easier for millions of businesses to accept bitcoin. This is how bitcoin as everyday money begins.” CEO Dorsey confirmed with a succinct “today” comment.
Contrast with PayPal's Stablecoin Push
The move comes as PayPal rolls out its dollar-backed stablecoin PYUSD to tens of thousands of users across 70 markets. Dorsey, a bitcoin purist who has repeatedly voiced aversion to stablecoins, recently said his company would support these tokens due to growing customer demand. Square's user base is 78% U.S.-based, with the rest from international markets, per its latest investor presentation.
Industry Reactions: A 'TCP/IP Moment'?
David Marcus, CEO of Lightspark and former PayPal president, described the rollout as a potential “TCP/IP moment” for money. He argued that bitcoin could become a foundational layer for transferring value across systems, just as TCP/IP standardized data traffic on the internet. “Enabling Bitcoin payments at scale could mirror how TCP/IP became the foundational protocol of the internet,” he said.
Suter noted in a separate post that “bitcoin as everyday money is a long term journey,” requiring many moves and pieces to align. By abstracting away crypto complexity and defaulting settlement to fiat, Square lowers the barrier for small businesses that previously rejected crypto. The integration targets the millions of merchants already using Square for payments, inventory and payroll — potentially expanding bitcoin's real-world payment footprint significantly.