A significant milestone in the world of digital currency was achieved when a customer made a coffee purchase using bitcoin at Compass Coffee, marking what is reported to be the first-ever Square terminal in the world to accept bitcoin. This pilot launch, held during DC Fintech Week, showcased Square’s latest payment integration for bitcoin. Enthusiasts observed that the system functioned seamlessly across various bitcoin wallets, illustrating the effectiveness of open payment standards and the Lightning Network.
Compass Coffee, a popular chain in D.C. with 27 locations, hosted the demonstration and invited lawmakers and fintech leaders to witness the innovative technology in action. The Compass Coffee team expressed their eagerness for the technology’s rollout, stating on X, “Cannot wait to see this come to Square devices worldwide soon.”
Square announced the introduction of Square Bitcoin, a new suite of tools aimed at making bitcoin usable for everyday businesses, from coffee shops to local retailers. This platform enables merchants and small businesses to accept bitcoin payments, automatically convert a portion of their sales into bitcoin, and manage their holdings using a built-in Bitcoin wallet—all from the same dashboard that handles point-of-sale and banking operations.
Square’s technology has become a familiar sight across the U.S., serving as an all-in-one payment and business management system that can be operated via mobile devices. Businesses of any size can utilize it to process payments, track sales and inventory, and manage customer relationships effectively. The rollout of Square Bitcoin is set to begin on November 10, 2025, and will feature no processing fees for bitcoin payments during the first year, with the goal of streamlining the experience to make using bitcoin as straightforward as card payments.
By integrating bitcoin directly into Square’s ecosystem, sellers will not require external wallets or third-party applications. They will have the flexibility to hold bitcoin on their balance sheets or convert it instantly into dollars. Miles Suter, Head of Bitcoin Product at Block, emphasized that this initiative aims to transition bitcoin into “everyday money.” This innovation could result in lower costs and faster settlement times for merchants compared to traditional card networks, marking another step toward bitcoin’s mainstream adoption.
Bitcoin is already being accepted as a form of payment in various establishments. Notably, Steak ‘n Shake began accepting bitcoin payments across all its U.S. locations in May, utilizing the Lightning Network through QR codes on kiosks and POS systems. This strategic move reportedly boosted same-store sales by approximately 11% in Q2, halved payment processing fees, and increased customer footfall, further establishing bitcoin as a robust alternative to conventional payment methods.
