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Stripe test lets Twitter creators get paid in cryptocurrency

Stripe test lets Twitter creators get paid in cryptocurrency
 
    Stripe is testing a way for users to receive payments in cryptocurrency, starting with "a select group of creators on Twitter." Creators who make money through the monetization feature on the platform can now earn in USD Coin (USDC) — a “stablecoin” cryptocurrency pegged to the U.S. dollar.

 
    Stripe is piloting a crypto payment option through the company's payment processor Stripe Connect, which customers can integrate into their online platforms or marketplaces. Crypto payments will be made through the Polygon network, a blockchain tied to Ethereum that enables faster and more efficient transactions. After receiving the funds, users can choose to store the earnings in Polygon or exchange them for another currency. While Stripe says it will support payments in USDC “initially,” it plans to add “support for additional rails and payment currencies” in the future.
 
    Stripe also said it hopes to support crypto payments in more than 120 countries by the end of the year, but it’s unclear when it plans to expand the feature to customers beyond Twitter. Last month, Stripe launched a fiat payment application programming interface (API), giving cryptocurrency businesses access to tools that make it easier to process payments. Stripe doesn't always support cryptocurrencies. In 2018, it dropped support for bitcoin payments, citing that customers were not interested in using it.
 
    "We're focused on helping the creators who drive these conversations make money and connect with their audiences in new ways," said Esther Crawford, Twitter's head of creator product. “We’re excited to start offering crypto payments to creators through Stripe, so they have more options for getting paid.” Twitter recently started testing a creator dashboard on iOS, letting users track their earnings, which they can only withdraw once They made $50. So far, Twitter has limited options for making money for creators. Followers can pay to access Ticketed Spaces, purchase Super Follows, or sign up for paid newsletters from creators.

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