Block’s Square platform rolled out a new feature on March 30 2026 that automatically enables Bitcoin payments for eligible U.S. merchants. The change makes Bitcoin a default payment option—merchants no longer need to opt in—while eliminating processing fees through the end of 2026. After a transaction, merchants receive U.S. dollars by default, so they are shielded from Bitcoin’s price volatility and do not need to manage crypto custody or complex accounting adjustments.
The feature leverages the Lightning Network to provide near‑instant, low‑cost transfers, and the automatic conversion to fiat is handled by Square’s integrated services. By removing the cost barrier and simplifying the payment flow, Block aims to broaden its merchant base and increase transaction volume, which can boost revenue from other Square offerings such as point‑of‑sale hardware, software subscriptions, and lending products.
Block’s broader Bitcoin strategy has already seen success in other segments. In Q4 2025, Cash App’s gross profit grew 33% year‑over‑year, while Square’s gross profit grew 7.5% year‑over‑year. The new automatic Bitcoin payments fit into this ecosystem, positioning Block to capture a growing share of merchants interested in cryptocurrency payments and reinforcing its vision of Bitcoin as everyday money. Miles Suter, Block’s Head of Bitcoin Product, said the rollout is a step toward making Bitcoin everyday money.
The launch follows a mixed earnings performance in the prior year. In Q1 2025, Block reported revenue of $5.77 billion—down from $6.21 billion expected—and an EPS of $0.56 versus the $0.98 consensus, reflecting weaker demand and higher costs. In contrast, Q4 2025 revenue rose to $6.25 billion and EPS reached $0.65, beating estimates and signaling stronger demand in core segments. While the Bitcoin feature is not a revenue‑generating event on its own, it is expected to drive additional transaction volume and cross‑sell opportunities across Block’s ecosystem.
David Marcus, CEO of Lightspark, called the move a "TCP/IP moment for money," underscoring the potential of Bitcoin to become a foundational payment rail. The feature’s fee‑free nature until the end of 2026 is a significant incentive for merchants, and the automatic conversion to fiat reduces risk and operational friction. Together, these elements suggest that the launch could accelerate merchant adoption and strengthen Block’s competitive position in the evolving payments landscape.
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