Compass Coffee становится первым кафе, принимающим биткоин через Square Translation: Compass Coffee becomes the first café to accept bitcoin through Square

The coffee chain Compass Coffee, based in Washington, has become the first business worldwide to accept digital currency via the Square payment terminal.

Initial customers have already had the opportunity to purchase coffee using the Lightning Network. Co-founder of Compass Coffee, Michael Haft, remarked that «all transactions went through instantly.»

“Bitcoin payments are not a novel concept. However, the fact that Square has made this process as straightforward as traditional transactions for local businesses like ours is indeed groundbreaking. I set up my wallet in about two minutes, and now the system operates alongside the regular credit cards and cash we’ve been using for over a decade,” he added.

On October 8, the fintech service from Block introduced an integrated solution for transactions in digital currency. The first news about it surfaced in May.

The pilot project with Compass Coffee marks the first practical implementation of the new Square system.

Starting from November 10, businesses will be able to accept Bitcoin and convert up to 50% of their daily revenue into cryptocurrency. The service will not charge any fees until 2027, after which a 1% transaction fee will be applied.

It’s worth noting that in August, Blue Origin, founded by Jeff Bezos, began accepting cryptocurrencies for space flight payments. The company supports Bitcoin, Ethereum, Solana, and stablecoins USDT and USDC.

In July, the payment giant PayPal announced the launch of crypto payments for businesses in the United States.