Bitcoin Payments Cover 4 Million Merchants, Square Expects Deployment to Complete by November 10

Square expects to complete the phased deployment of Bitcoin payments by November 10, covering its network of over 4 million merchants. The deployment began on March 30, and eligible U.S. merchants will have Bitcoin payments automatically enabled without needing to apply. Customers can pay via the Lightning Network, with transactions settling in seconds; merchants will receive payments in USD by default but can choose to retain Bitcoin. Square will waive Bitcoin payment processing fees until December 31, 2026, after which a fixed fee of 1% will be charged; merchants can also automatically convert up to 50% of their daily sales revenue into Bitcoin.

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