Compass Coffee становится первым кафе, принимающим биткоин через терминалы Square Translation: Compass Coffee Becomes the First Café to Accept Bitcoin Through Square Terminals

The Washington-based coffee chain Compass Coffee has become the world’s first business to accept digital gold via Square’s cash register system.

Initial customers have successfully paid for their coffee using the Lightning Network. Co-founder of Compass Coffee, Michael Haft, mentioned that «all transactions were instantaneous.»

«Bitcoin payments are not a new phenomenon. However, what Square has done to simplify this process to the level of standard transactions for a local business like ours is groundbreaking. It took me about two minutes to set up the wallet, and now the system operates alongside the traditional credit cards and cash we’ve been using for over a decade,» he added. 

On October 8, Block’s fintech service launched an integrated solution for payments in digital gold. The news first surfaced in May.

The pilot project with Compass Coffee marks the first real-world application of Square’s new system.

Starting from November 10, retail 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% transactional fee will apply.

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

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