Block, the payment company led by Jack Dorsey, has announced that its subsidiary brand Square is launching a new Bitcoin payment and wallet product. This offering is targeted at small to medium-sized merchants using Square's point-of-sale systems, aiming to integrate Bitcoin into everyday commercial transactions. Merchants can automatically convert their receipts into Bitcoin through Square's network without incurring any fees. Starting November 10, merchants will also have the option to accept Bitcoin payments directly and convert up to 50% of their daily sales into Bitcoin.