Square don launch Bitcoin POS payments with zero-fee USD conversion for US merchants
Square don start phased rollout for US for Bitcoin POS payments for merchants wey qualify. Di company go waive processing fees for Bitcoin POS payments for two years, till end of 2026, to make adoption cheaper for small shops.
For checkout, customers fit pay with BTC and Square go convert the transaction to USD by default immediately. Merchants go get credited in USD so dem no go dey directly exposed to Bitcoin price wahala. Qualified sellers fit also opt into “stacking” to hold part of daily sales in Bitcoin instead make dem receive 100% cash.
Rollout start Monday and dem expect am reach all eligible Square users by Nov 10. Businesses wey dey New York no dey included now because of state regulations.
For crypto traders, na another step toward real-world “everyday” use through Bitcoin POS payments, while merchant settlements still dey in fiat. The update fit help short-term sentiment for BTC by improving payment acceptance and reducing custody/volatility friction for retailers.
Bullish
Square fee waiver and instant USD conversion dey reduce real-world friction for merchants wey dey use Bitcoin POS payments. Even though e no go increase BTC demand in direct “buy-and-hold” sense for every merchant (plenty go still collect USD), e dey improve payment acceptance and fit indirectly raise retail on-chain activity.
Short-term, traders fit react positively to near-term expansion of real usage and lower merchant costs, wey fit support BTC sentiment. Long-term, if more merchants opt into the optional “stacking” feature, incremental BTC holding fit become more meaningful, strengthening the adoption narrative.
Overall, the news dey more supportive than disruptive for BTC price dynamics, pointing to a bullish-to-moderately bullish bias.