Square, Block’s payment platform, now has approximately one million merchants enabled to accept Bitcoin, indicating continued expansion in offline and retail payment scenarios. This growth is primarily driven by a default enrollment mechanism launched at the end of March, which automatically enables the feature for eligible U.S. sellers, though they can still opt out if desired.
Default activation for growth stimulation
According to disclosures from the Block team, this expansion began on March 30. At that time, Square began enabling Bitcoin payments by default for eligible U.S. merchants. According to the company’s disclosed peak rate, a new merchant activated the feature every 8 seconds on average.
This payment flow operates on the Bitcoin Lightning Network, allowing users to pay directly with BTC, while merchants receive USD by default. The system handles the conversion in the background, so merchants are not exposed to the risks of Bitcoin price volatility.
Bitcoin payments shift toward everyday spending
At the Bitcoin Conference in Las Vegas, Block further outlined its payment product roadmap. Miles Suter, Head of Bitcoin Products at Block, stated that Block aims to expand Bitcoin’s role from a mere held asset to a daily payment tool.
In addition to merchant payments, Square is also developing a "tap-to-pay" Bitcoin payment feature based on NFC hardware. This solution also uses the Lightning Network and eliminates the need for QR codes. The company states that transaction fees for this feature will be waived until the end of 2026.
More products are being synchronized with BTC
Block is also integrating Bitcoin functionality into more of its own products. Cash App users can currently automatically convert peer-to-peer payments into BTC and earn 5% Bitcoin cashback when spending at Square merchants. For withdrawals, users can withdraw up to $10,000 per day and $25,000 per week.
Meanwhile, Block has launched a new version of the Bitkey hardware wallet, featuring a touchscreen and a 2-of-3 multisignature security scheme to simplify the self-custody experience.
Additional information: The reserve proof report for the first quarter of 2026, published by Block at the same time, shows that the company holds 28,355.05 BTC, valued at approximately $2.2 billion according to the figures cited in the article.