On Friday, Twitter and Stripe announced the launch of cryptocurrency payments for Stripe Connect. As reported by the two companies, a select group of creators on Twitter will soon be able to receive their earnings on the platform in the form of the USD Coin (USDC) stablecoin. Payments will occur through the Polygon (MATIC) network, a layer 2 blockchain known for its low fees, fast transaction speed, innovative zero-knowledge technology, and integration with Ethereum (ETH).
As a centralized platform, content creators and freelancers would first have to go through Stripe’s “Know Your Customer” onboarding checks. Afterwards, they will be able to manage their account details, track real-time earnings and upcoming payments to their cryptocurrency wallets.
By the end of the year, Twitter and Stripe plan to expand the program to more than 120 countries. Speaking about development, Esther Crawford, Twitter Product Manager for Creators, commented:
“We’re excited to start offering crypto payments to creators through Stripe, so they have more options on how to get paid.”
At the time of publishing, Twitter is the subject of a “hostile takeover” by billionaire businessman and Tesla CEO Elon Musk. As Musk said, His main promises, if his bid for the company is successful, are to reduce cryptocurrency scam tweets spreading across the platform and perhaps introduce a Dogecoin (DOGE) payment option for its Twitter Blue monthly subscription service.
Introducing crypto payouts: https://t.co/xJnpLmsBKn. pic.twitter.com/PJQ2oTaU7J
— Stripe (@stripe) April 22, 2022
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