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Stripe Teams Up With Twitter To Allow Payments In Crypto

Stripe is pushing cryptocurrency to the forefront by allowing merchants who accept its payment processing service, StripsPayments™, to pay their users in USDC. Starting this Friday, Twitter will let certain creators receive payments for features on Ticketed Spaces, and Super Follows through the crypto wallet.

In the Super Follows Twitter offer, individuals can earn monthly income by creating an unprecedented level of content and interaction. In addition, Ticketed Spaces offer individuals to make money through live audio experiences on Twitter Spaces.   

Related Readings | Stripe Launches Bitcoin Products, But What’s The Catch?

A year ago, Twitter created unique monetization features to increase revenue and increase the wealth of content creators.

The offered payment facility in multiple cryptocurrencies and transaction routes is applicable in almost seventy countries worldwide. 

Esther Crawford working as Product Lead for Creators tweeted;

We want creators to get paid in the way that works best for them, which is why we are excited to partner with @Stripe to offer crypto payouts for our monetization products. Creators can now get paid out in USDC for money earned with @SuperFollows & Ticketed @TwitterSpaces 

Bitcoin Price
Bitcoin currently trading below $40,000 support level | Source: BTC/USD chart from Tradingview.com

Stripe’s Future Crypto Payments Plans

A $95 billion online payments company will begin offering merchants the ability to payout in crypto through their stablecoin – USDC. The cryptocurrency is issued by Circle and backed with fiat currency U.S dollar.

The recent development made by the company is considered the first significant step taken after leaving out bitcoin support four years earlier.  

Stripe has changed its opinion on crypto in light of the hype around “Web3.” Web3 is a movement in tech that calls for the creation of a decentralized version of the internet based on blockchain technology. The company formed a team last year to explore crypto and Web3. In November, Stripe co-founder John Collison hinted that the firm might soon offer crypto support again.

According to Stripe officials, Stripe Connect would be solely responsible for transacting all the crypto remittances according to customers’ needs. 

The content creators would be free to select multiple investment sources for their earnings. They can even invest the cryptocurrency in various crypto wallets like the Ethereum blockchain or hold it on the Polygon network. They can also convert it to the other desired currencies. 

As per the company’s plans, Stripe would have the facility to offer payment to the customers in the other cryptocurrencies in the future. 

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Stripe also started assisting crypto companies a month ago, apart from the current offer. In March 2022, FTX and FTX US signed a services agreement with the company for payments and KYC services. The other crypto exchanges that wrote a contract with Stripe include Blockchain.com, Gateway, and others. 

Featured Image From Pixabay, Chart from Tradingview.com




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