Jack Dorsey's Square Unveils Bitcoin Payments, Wallet for Retailers

Jack Dorsey's Block has launched a new product enabling small businesses to accept Bitcoin and manage it through an integrated wallet using the Square point-of-sale system. Merchants can convert received funds into Bitcoin without incurring fees, with the ability to convert up to 50% of daily sales into the cryptocurrency starting November 10. Block's Head of Bitcoin Product highlighted that this move aims to simplify Bitcoin payments for everyday transactions, helping small businesses adopt this digital currency. Dorsey envisions Bitcoin as a means of everyday exchange rather than just a store of value, promoting its use in regular commerce. The Bitcoin wallet allows merchants to manage their crypto holdings seamlessly. This initiative reflects Block's commitment to fostering Bitcoin integration in mainstream financial activities, showcasing its potential role in daily commerce as more businesses adopt cryptocurrency payment options.

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