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A customer recently purchased a coffee using bitcoin at Compass Coffee, which reportedly marked the inaugural Square terminal globally to accept bitcoin payments.
This pilot initiative, highlighted during DC Fintech Week, was made possible through Square’s new Bitcoin payment integration. According to a Compass Coffee X post, the system functioned flawlessly across various Bitcoin wallets, showcasing the effectiveness of open payment standards and the Lightning Network.
Compass Coffee, a cherished chain in D.C. with 27 locations, hosted the event and invited lawmakers and fintech leaders to witness the technology in action. “Excited to see this feature come to Square devices globally soon,” the team posted on X.
What is Square Bitcoin?
Square has recently introduced Square Bitcoin, a new suite of tools aimed at making bitcoin accessible for everyday businesses — from coffee shops to local retailers.
The platform will enable merchants and small businesses to accept bitcoin payments, automatically convert a portion of their sales into BTC, and manage their holdings within a built-in Bitcoin wallet — all from the same dashboard they currently use for point-of-sale and banking.
Square’s technology is now a common sight across the U.S. — an all-in-one payment and business management system operating directly on mobile devices. It provides businesses of any size with the resources to process payments, track sales and inventory, and manage customer relationships.
The rollout is set to begin on November 10, 2025, offering no processing fees for Bitcoin payments during the initial year. Square aims to make using Bitcoin “as seamless as card payments,” simplifying a process that has traditionally been complicated for small businesses.
By integrating Bitcoin directly into Square’s ecosystem, sellers won’t require external wallets or third-party applications. They can opt to hold Bitcoin on their balance sheets or instantly convert it to dollars.
Miles Suter, Head of Bitcoin Product at Block, stated that the initiative seeks to transform Bitcoin into “everyday money.”
For merchants, this could result in reduced costs and faster settlements compared to conventional card networks. For Bitcoin, this development is another step towards mainstream adoption.
Bitcoin is already being used as a payment method elsewhere; notably, Steak ‘n Shake started accepting Bitcoin at all U.S. locations in May, utilizing the Lightning Network through QR codes on kiosks and POS systems.
This initiative led to an approximate 11% boost in same-store sales in Q2, halved payment processing fees, and increased customer visits, reinforcing Bitcoin as a viable alternative to traditional payment methods.
