Square launches Bitcoin payment and merchant wallet features

ChainCatcher news, Jack Dorsey's payment company Block announced that its sub-brand Square has launched a new Bitcoin payment and wallet product aimed at small and medium-sized merchants using the Square point-of-sale system, with the goal of promoting Bitcoin into everyday business payment scenarios.

Merchants can automatically convert payments to BTC through Square's Bitcoin network, with no fees. Starting from November 10, merchants can also directly accept Bitcoin payments and choose to automatically convert up to 50% of their daily sales revenue into BTC.