Twitter announced that it would use Stripe to offer crypto payouts in the coming months. The Online payments giant Stripe has stated that it will begin letting Twitter stars get paid in a dollar-tethered form of crypto in the latest endorsement of digital money.
Stripe was launched by Limerick brothers John and Patrick Collison. The company said in a blog post that it is eager to expand the option to other online platforms, where the ‘creators’ that attract audiences are offered various ways of making money, including subscriptions and access to exclusive content.
The Twitter creators’ product lead Esther Crawford stated:
“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.”
The new feature comes up as Twitter aims to fend off an unwanted campaign by billionaire Elon Musk to acquire the one-to-many messaging platform, and as proponents of crypto strive to make it go mainstream.
Stripe will do the behind-the-scenes work to ensure that a “select group” of popular Twitter figures will get paid in USD Coin linked to the US dollar, the firms stated in the post. The blog post further explained:
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“With crypto payouts for Connect, Twitter will make it possible for creators who opt in to have their earnings paid out to a cryptocurrency wallet. This will enable many people who wouldn’t otherwise be able to hold dollars to do so.”
Stripe Aims To Spread To More Audiences
Notably, the Stripe Connect payment network is used to send money in over 70 nations, as highlighted by the company. The financial technology company stated that it wants to add more partners, nations, and cryptos in the future.
For some time Stripe accepted transactions in bitcoin but stopped in 2018, citing worries about fees and timing. But, it has recently changed course, confirming partnerships with crypto exchange platforms Blockchain.com and FTX.