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

Finance GoMining challenges Jack Dorsey's Square with payments system designed around bitcoin GoMining unveiled a software development kit and programmable access for its bitcoin payment protocol GoBTC Pay, allowing merchants to accept BTC for everyday purchases. By Jamie Crawley | Edited by Sheldon Reback Jun 19, 2026, 12:30 p.m. 2 min read Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Make preferred on Mark Zalan, GoMining CEO (CoinDesk) Summary Show GoMining unveiled a software development kit (SDK) and application programming interfaces (API) for its bitcoin payment protocol, GoBTC Pay. Merchants will be able to build products and services that use the system, allowing them to accept bitcoin for everyday purchases. GoMining's service differs from rivals because the merchant receives bitcoin, not fiat, by default. Bitcoin BTC $ 62,482.04 mining company GoMining said it is making it easier for companies to accept bitcoin BTC $ 62,482.04 payments, bringing it into competition with companies including Block's (XYZ) Square. Where GoMining says it differs from incumbents is that the entire transaction is completed in bitcoin. Many competitors, including Square, allow customers to pay in bitcoin while delivering fiat currency to the retailer. GoMining retailers who want fiat will need to handle the conversion themselves. "Our idea isn't to squeeze bitcoin into the old fiat experience and lose what makes it bitcoin along the way," CEO Mark Zalan said in an interview over Telegram. "It's to solve the real problems with BTC payments the high and variable fees, the slow and unpredictable settlement, while preserving non-custody and onchain finality." GoMining's software development kit (SDK) and application programming interfaces (API) for its BTC payment protocol GoBTC Pay, unveiled Friday, enable retailers to access its GoBTC Pay system. The company plans to recruit an initial 10 merchants as part of the rollout, it said. GoBTC Pay was built to enable bitcoin payments settled directly on the Bitcoin network, using GoMining's Stratum V2 mining protocol, with an average settlement time of around 12 hours. Merchants will pay 0.2% in transaction fees, shared 50-50 between wallet providers and miners. Block, the fintech company co-founded by Jack Dorsey, has been rolling out a bitcoin payments service of its own over the past year. The system allows businesses to accept BTC using the Bitcoin layer-2 network Lightning. Square's service converts the bitcoin amount into U.S. dollars by default, meaning the receiving merchant receives payment in BTC only if it chooses to. GoMining appears to be betting that more businesses will want to receive and retain bitcoin directly. Bitcoin News Bitcoin Mining Related Assets Bitcoin $ 62,482.04 2.83 % Latest Crypto News 1 Franklin Templeton proposes new ETFs that turn corporate dividends into bitcoin 1 hour ago 2 Smart-contract and DeFi coins lead losses as bitcoin wilts for 4th straight day 1 hour ago 3 Digital credit market hit by huge selloff as Strive CEO blames leverage liquidations 3 hours ago 4 Microsoft found malware that hijacks crypto wallets and spreads through USB sticks 3 hours ago 5 XRP falls 3% after losing $1.15 support as breakout attempt fades 7 hours ago 6 Live markets: Bitcoin under pressure as Saylor comments on STRC sell-off 7 hours ago 7 Bitcoin traders load up on bearish bets all the way down to $52,000 7 hours ago 8 Bitcoin falls below $63,000 as risk assets sell off and the week's bounce fades 7 hours ago 9 Ex-Celsius CEO Mashinsky gets U.S. CFTC ban in final resolution with regulator 17 hours ago 10 U.S. agencies seek stablecoin customer-ID rules akin to banks in new GENIUS Act pitch 19 hours ago Latest Research CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high. By CoinDesk Research Jun 15, 2026 In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high. Why it matters : In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high. View Full Report More From Finance Alchemy's AI-driven identity and payment service gains access to Visa network Here is how Coinbase plan to survive the crypto downturn by ditching its reliance on trading fees Moody’s rolls out credit ratings on Solana in tokenized asset push More From Bitcoin Franklin Templeton proposes new ETFs that turn corporate dividends into bitcoin Smart-contract and DeFi coins lead losses as bitcoin wilts for 4th straight day Digital credit market hit by huge selloff as Strive CEO blames leverage liquidations