The actions of Block Inc. (NYSE:XYZ) rose to pre-market trading on Tuesday after the point-of-sale system Square deployed payments Bitcoin automatic for eligible traders in the United States (CRYPTO: BTC).
Square said in a post
Square added that there would be no processing fees for these transactions until 2026. Note that this feature is available to all US-based merchants, except those based in New York.
Launched in November, Square Bitcoin Payments also includes a “conversion” feature that allows merchants to convert up to 50% of their card sales into Bitcoin.
The converted Bitcoin is held securely in a Square wallet, allowing traders to buy, sell, hold, or withdraw their BTC holdings effortlessly.
At the time of writing, Square card payments and Cash App Pay transactions are eligible for Bitcoin conversions
The price movement : At the time of writing, BTC was trading at $66,808.87, down 1.34% over the past 24 hours, according to data from Benzinga Pro.
Block shares rose 4.20% in premarket trading after closing up 2.64% at $81.11 during Wednesday’s regular trading session. The stock closed at a high reached in almost 8 months.
Benzinga’s Edge Stock Rankings give XYZ a high Value score, but its price movement remains weak in the short, medium, and long term.
