Block Inc. (NYSE:XYZ) shares were trading higher in the pre-market session on Tuesday after its Square point-of-sale system rolled out automatic Bitcoin (CRYPTO: BTC) payments for eligible merchants in the U.S.
Square Announces Automatic Bitcoin To Fiat Feature
Square said in a X post that the new feature will allow sellers to accept Bitcoin payments that convert “instantly” to cash at checkout, without any additional setup.
Square added that there will be no processing fees for these transactions until 2026. Note that this feature is available to all U.S.-based merchants except those based in New York