Block, Inc., led by Jack Dorsey, has automatically enabled Bitcoin payment acceptance via the Lightning Network for eligible businesses using the Square platform. This change, which covers millions of businesses across the USA, reaches a wide user base except New York state. The system, which was previously optional, is now turned on by default, and sellers can turn off this feature via settings at any time.
Balance sheet option comes to the fore as Bitcoin payments become default
With the new structure, customers can pay with Bitcoin via QR code during payment, and transactions are completed almost instantly via the Lightning Network. By default, the system settles payments in US dollars. However, businesses can keep all or a certain portion of the Bitcoin payments they receive in Bitcoin if they wish.
Square, which offers payment solutions within Block, is known as a POS and financial services platform widely used among small and medium-sized businesses. While the company has long stood out with its investments in Bitcoin integration, it is considered that this latest step creates a new option in companies’ balance sheet management.
Businesses can also set up to automatically convert a certain percentage of daily card sales into Bitcoin. This feature provides the opportunity to accumulate Bitcoin regularly and with low effort, paving the way for companies to develop an alternative approach to their reserve strategies.
Low transaction costs and widespread access attract attention
There will be no transaction fee for payments made with Bitcoin until the end of 2026, after which a fixed fee of 1 percent will be applied. This rate means a lower cost compared to traditional card transactions. Additionally, the absence of repayment risk provides an additional advantage for businesses.
The compatibility of the Square infrastructure with existing hardware and software enables use without requiring any additional installation. This makes Bitcoin acceptance more technically accessible for both big brands and small businesses.
The fact that even a small segment of the Square ecosystem, which includes approximately 4 million businesses, prefers to hold Bitcoin could create a serious corporate demand in total. For example, an adoption rate of 5 percent means that approximately 200 thousand businesses hold Bitcoin on their balance sheets.
It is stated that the updated terms of use were revised on March 16, 2026, and this change was noticed by users at an early stage. Company employees also stated that this situation emerged as a result of reviews made by the community.
With the gradual transition process that Block started at the end of 2025, it appears that this system has now been deployed on a large scale. The development provides an infrastructure that supports the use of Bitcoin not only as a means of payment but also as a store of value for businesses.
