Stripe test lets Twitter creators get paid in cryptocurrency

Stripe test lets Twitter creators get paid in cryptocurrency

Trending 5 months ago 36

Stripe is investigating a mode for users to person their payouts successful cryptocurrency, starting with “a prime radical of creators connected Twitter.” Creators who gain wealth done monetization features connected the level tin present get their net successful USD Coin (USDC) — a “stablecoin” cryptocurrency tied to the US dollar.

Stripe is piloting the crypto payout enactment done the company’s outgo processor, Stripe Connect, that customers tin integrate into their online level oregon marketplace. Crypto payouts volition hap implicit the Polygon network, a blockchain tied to Ethereum that allows for faster and much businesslike transactions. After receiving their funds, users tin take to store their net successful Polygon oregon speech it for different currency. While Stripe says it volition “initially” enactment payouts successful USDC, it plans connected adding “support for further rails and payout currencies” successful the future.

Stripe besides says it hopes to enactment crypto payouts successful implicit 120 countries by the extremity of this year, but it’s unclear erstwhile it plans connected expanding this diagnostic to customers extracurricular of Twitter. Last month, Stripe introduced fiat outgo exertion programming interfaces (APIs), giving cryptocurrency businesses entree to tools that marque it easier to process payments. Stripe wasn’t ever connected committee with crypto. In 2018, it dropped enactment for Bitcoin payments, citing that customers conscionable weren’t that funny successful utilizing it.

“We’re focused connected helping creators who thrust those conversations gain wealth and link with their audiences successful caller ways,” said Esther Crawford, the merchandise pb for creators astatine Twitter. “We’re excited to statesman offering crypto payouts to creators via Stripe truthful they person much prime successful however they get paid.”

Twitter precocious started investigating a creator dashboard connected iOS, letting users support way of their earnings, which they tin lone retreat erstwhile they’ve earned $50. So far, Twitter has constricted options for creators to marque money. Followers tin wage to summation entree to Ticketed Spaces, acquisition Super Follows, oregon motion up for a creator’s paid newsletter.