Twitter continues to integrate cryptocurrencies into the platform, providing a wide range of opportunities for its users. New payment options in USDC will be very valuable for many users of the social network.
Stripe continues its crypto endeavors with a new pilot program that will let some Twitter users get paid in the popular stablecoin, USDC, according to Decrypt. This may make it easier for creators worldwide to hold dollars while keeping their personal information safe.
The payment giant is launching a new crypto pilot on Twitter. The move is part of an expansion of Stripe's Connect service, which lets businesses connect with the firm's payment APIs, including its KYC onboarding. The service allows for various payment methods and currencies and is available in over 70 countries.
“While the ‘store of value’ aspects of cryptocurrencies typically receive the most attention, we view the prospect of ‘open-access global financial rails’ as being at least equally compelling,” read a prepared statement from Stripe. “As a result, we’ve been exploring ways to use cryptocurrency-based platforms to unlock broader access.”
This exploration has led to the launch of the crypto payouts pilot, which will offer a “select group of creators on Twitter” the option to get paid in crypto. The payouts will be executed on the speedy crypto network Polygon and will only support Circle’s USDC stablecoin at first. Adding other networks beyond Polygon is also on the agenda, according to Stripe.
Twitter users included in the pilot will be allowed to opt-in to receive their payouts in USDC. They can then bridge them to the Ethereum blockchain or simply hold on Polygon. Twitter’s various monetization services like Super Follows and Ticketed Spaces are expected to integrate the pilot.
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.