Bitcoin Product Lead Miles Suter at Block, Inc. announces that eligible domestic sellers will now have bitcoin ( BTC) payments enabled by default. This rollout streamlines the digital asset transaction process for small and large businesses alike within the U.S. jurisdiction.
The system ensures that sellers who accept the cryptocurrency receive dollars as their default settlement currency, eliminating volatility risks for local merchants. This update aims to scale the utility of digital assets for everyday commerce across the company’s extensive merchant network.
“This is how bitcoin as everyday money begins,” stated Miles Suter regarding the launch.
🧭 FAQs
• Which region is eligible for the new Square bitcoin payment feature? Only eligible sellers located within the United States can currently access this automatic feature.
• What currency do local merchants receive after a bitcoin transaction? U.S. sellers receive United States Dollars as the default settlement for all bitcoin sales.
• Who leads the Bitcoin product development for this Block initiative? Miles Suter serves as the Bitcoin Product Lead overseeing this integration for Block, Inc.
• How does this change impact existing payment workflows for Square sellers? Eligible domestic businesses will see bitcoin acceptance enabled automatically to simplify digital asset adoption.
Source: https://news.bitcoin.com/square-enables-automatic-bitcoin-payment-acceptance-for-eligible-us-sellers/
