Bitcoin mining firm GoMining has launched GoBTC Pay, a Bitcoin payment protocol designed to enable merchants to accept BTC directly for everyday transactions. Unlike competitors such as Square, GoBTC Pay settles transactions entirely in Bitcoin, avoiding automatic conversion to fiat currency. The protocol, built on the Bitcoin network and Stratum V2 mining pool protocol, offers an average settlement time of 12 hours and charges a 0.2% merchant fee, shared between wallet service providers and miners. GoMining aims to onboard 10 merchants initially, with the expectation that more will opt to hold Bitcoin rather than convert it to fiat. This move positions GoMining as a direct competitor to Jack Dorsey's Block Square, as it seeks to capitalize on the growing interest in Bitcoin as a payment method.