Square, Block’s payments platform, has begun rolling out Bitcoin payments to its point-of-sale terminals for eligible US sellers, with the automatic feature going live today as part of a phased rollout over the coming month.
The announcement was shared on Monday in a job on X by Miles Suter, Bitcoin Product Manager at Block, and republished by CEO and long-time Bitcoiner Jack Dorsey.
Suter said the feature is designed to make it easier for “millions of businesses” to accept Bitcoin, adding that eligible US sellers will have payments automatically enabled and receive US dollars by default when customers pay in Bitcoin (BTC). Merchants will also have the ability to automatically “stack” Bitcoins from their daily sales.
He described the move as a step toward using “Bitcoin as everyday money.” Bitcoin payment acceptance is expected to be available to all Square merchants by November 10.
In a separate jobSquare said transactions will instantly convert to cash at checkout, require no additional setup, and offer near-instant settlement. The company added that traders do not need to hold Bitcoin and the feature will not incur any processing fees until 2026.
According to Square’s website, the feature is currently available to US sellers who meet verification requirements, excluding New York-based businesses.
The rollout, which could reduce barriers to Bitcoin payments by removing volatility and custody risk for millions of merchants, was first described by Block in May.
According to BitcoinTreasuries.net dataBlock ranks 14th among publicly traded Bitcoin holders, with 8,883 BTC on its balance sheet at an average cost of $32,939 per coin.
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Bitcoin-backed loans are growing in crypto and traditional finance
Beyond payments and its role as a store of value, Bitcoin is increasingly used in lending and broader financial infrastructure.
In January, Nexo launched a zero interest loan product authorizing Bitcoin and Ether (ETH) holders to borrow against their assets through fixed term loans with predefined repayment terms.
The offering builds on a structured model previously limited to its private and OTC channels, which has facilitated more than $140 million in borrowing in 2025, according to the company.
The same month, Coinbase reintroduction of Bitcoin-backed loans in the US, allowing users to borrow up to $100,000 in USDC against BTC held on the platform, and in February, Kraken followed with fixed-rate crypto loans for Pro users, offering digital asset borrowing at rates from 10% to 25% APR for terms of up to two years.
Traditional finance is also starting to integrate Bitcoin and credit backed by cryptocurrencies. US mortgage lender Rate recently launched a program allowing borrowers to use verified cryptocurrency holdings to meet mortgage underwriting requirements without liquidating their assets.
Last week, Coinbase and Better Home & Finance introduced a structure that allows borrowers to put up cryptocurrencies as collateral for loans used to fund down payments on Fannie Mae-compliant mortgages.
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