Square Activates Bitcoin Payment Acceptance by Default for Eligible US Merchants

Square has officially activated Bitcoin payment acceptance by default across its network of over four million eligible U.S. merchants. Transactions are settled via the Lightning Network, with incoming payments converting to U.S. dollars by default to shield sellers from volatility, though merchants may opt to hold Bitcoin or auto-convert up to 50% of daily sales. The rollout, which initially began on March 30, sets individual transaction caps near $600 and daily merchant limits at $20,000. Processing fees are waived at 0% through December 31, 2026, before moving to a flat 1% fee.