Square, the arm of Block Payment Services (XYZ), launched a new set of tools aimed at doing Bitcoin It’s easier to use for small businesses, letting sellers accept crypto payments and manage their digital assets next to traditional finances, the company announced Wednesday.
The offer, called Square Bitcoin, includes three main features: Bitcoin payment, automatic Bitcoin changes from card sales, and a folk purse of Bitcoin built on the Square seller’s platform. Sellers will receive Bitcoin with no processing fees for the first year and choose to convert up to 50% of their sun -sales sales to Bitcoin automatically. The tools are available to eligible US businesses, with Bitcoin payments rolling on November 10.
The announcement reflects a wider trend. Crypto payments in the US are expected to grow by 82% between 2024 and 2026, according to the data mentioned in the release. But so far, access to Bitcoin is almost focused on investors or tech-savvy individuals. Moving Square aims to bring that access to Main Street.
In practice, tools can allow a local coffee store to accept a Bitcoin payment from a customer using a phone purse, convert half of their day sales to Bitcoin automatically, and check all their finances to the same dashboard they use to manage inventory and payroll. According to Square, 142 Bitcoin has been accumulated by early use of the conversion feature, first voted in 2024.
By replication of Bitcoin on existing banking payments and ecosystems, square – a subsidiary of the block (SQ) – is trying to lower the barrier to enter for small businesses to participate in the crypto economy. It is also a continuation of the long -term Block focus on Bitcoin, which covers retail tools such as cash apps and hardware initiatives such as Bitkey Wallet products and Proto Mining.
Miles Suter, head of the Bitcoin product on the block, said the tools were designed to help sellers “do not miss a sale” while giving them access to financial tools that are usually out of reach.
“We make bitcoin payments as seamless as card payments,” he said in a statement.
