Stripe connect is introducing the crypto payouts feature which will pilot on Twitter, a select group of creators on Twitter will be able to use cryptocurrency-based rails to receive their earnings from Twitter.
According to an announcement made today, financial services firm Stripe will allow payments in the USDC stablecoin on the Polygon blockchain.
Stripe Connect, the company’s method for integrating payments into online markets, will be the first to accept such payments, with Twitter as the first partner.
“With crypto payments, a select number of creators on Twitter — our first partner — will be able to collect their revenues from Twitter using cryptocurrency-based rails,” wrote Stripe in a blog post.
Twitter is where people go to have conversations about what’s happening. We’re focused on helping creators who drive those conversations earn money and connect with their audiences in new ways. We’re excited to begin offering crypto payouts to creators via Stripe so they have more choice in how they get paid.Esther Crawford, Product Lead for Creators, Twitter
Users of Twitter’s offerings, such as Ticketed Spaces and Super Follows, will be able to receive their earnings in the stablecoin.
Businesses and platforms that use Stripe Connect will be able to pay out in USDC without needing to own or keep the stablecoin itself, according to Stripe.
“With crypto rewards, Stripe platforms may deliver money to verified receivers practically anywhere in the world,” said Sandeep Nailwal, co-founder of Polygon.
Stripe has stated that it intends to add support for other “rails” and payout currencies in the future.