Square, owned by Jack Dorsey, has automatically enabled Bitcoin payments for millions of U.S. merchants.

According to CoinDesk, Square, owned by Jack Dorsey, has begun automatically enabling Bitcoin payments for millions of US merchants. Transactions are instantly converted to USD at checkout, and merchants can accept Bitcoin without any additional setup and without bearing the risks of price fluctuations or custody. This feature includes near-instant settlement and is free of processing fees until 2026. Square stated that this is an important step in integrating Bitcoin into everyday commerce, with merchants accepting USD by default without needing to change their accounting practices or hold crypto assets. It is reported that 78% of Square's users are from the US, and 22% are from international markets. Previously, PayPal launched its USD stablecoin PYUSD to tens of thousands of users in 70 markets worldwide, promoting the adoption of digital payments.