According to a ChainCatcher report published on November 11, 2026, Square planned to complete a phased expansion of Bitcoin payments. Lightning Network payments were to open to eligible sellers in its US merchant network.
A consumer would pay in Bitcoin. The merchant would receive US dollars by default, or could choose to keep Bitcoin. The report does not describe custody, channel liquidity, or practical limits on routing or eligibility, and it does not present the arrangement as an on-chain payment.
Square was to waive the Bitcoin payment processing fee through the end of 2026, then charge a uniform 1% fee. Its broader merchant network covers more than 4 million merchants, but eligibility restrictions remained. Actual adoption had not been independently quantified.
Original article: ChainCatcher, November 11, 2026.
