GoMining challenges Jack Dorsey's Square with payments system designed around bitcoin

GoMining announced GoBTC Pay, a bitcoin-native payments protocol with an SDK and APIs that lets merchants build checkout products and accept BTC for everyday purchases. The company is positioning the service as an alternative to Block’s Square, emphasizing that payments settle directly on the Bitcoin network rather than converting to fiat by default. GoMining says merchants will pay 0.2% transaction fees, with fees split between wallet providers and miners, and that average settlement time is about 12 hours. The rollout will initially target 10 merchants. The launch highlights growing competition in bitcoin payments and could support broader BTC utility if merchants prefer to hold bitcoin rather than immediately convert to dollars.