Square Rolls Out Automatic Bitcoin Payments for Millions of US Businesses

Square's latest innovation aims to bring bitcoin payments to the masses by automatically enabling them for millions of eligible US businesses. According to reports, this feature will allow merchants to instantly convert Bitcoin (BTC) to USD at checkout without requiring any additional setup or fees.

The rollout is part of a broader initiative by Square to integrate bitcoin into everyday commerce. By handling conversions in the background and defaulting settlement to fiat currency, Square aims to lower the barrier for small businesses that have historically been hesitant to adopt cryptocurrency.

Industry experts see this move as a significant step towards mainstream adoption of crypto. 'Enabling Bitcoin payments at scale could mirror how TCP/IP became the foundational protocol of the internet,' said David Marcus, CEO of Lightspark and former President of PayPal.