On Friday, Twitter and Stripe announced the rollout of crypto payouts for Stripe Connect. As told by the two companies, a select group of creators on Twitter will soon be able to receive their earnings on the platform in the form of the USD Coin (USDC) stablecoin. Payments will occur via the Polygon (MATIC) network, a layer-2 blockchain known for its low fees, fast transaction speed, innovative zero-knowledge technology and integration with Ethereum (ETH).
As a centralized platform, content creators and freelancers would first need to pace Know Your Customer onboarding checks conducted by Stripe. Afterward, they can manage their account details, track real-time earnings and upcoming payouts into their crypto wallets.
By the end of the year, Twitter and Stripe plan to expand the program to over 120 countries. Regarding the development, Esther Crawford, Twitter’s product lead for creators, commented:
“We’re excited to begin offering crypto payouts to creators via Stripe, so they have more choice in how they get paid.”
At the time of publication, Twitter is being targeted in a “hostile takeover” by billionaire entrepreneur and Tesla CEO Elon Musk. As told by Musk, his top pledges, should his bid for the company succeed, are to cut down on the cryptocurrency scam tweets spreading across the platform and perhaps introduce a Dogecoin (DOGE) payment option for its Twitter Blue monthly subscription service.
Introducing crypto payouts: https://t.co/xJnpLmsBKn. pic.twitter.com/PJQ2oTaU7J
— Stripe (@stripe) April 22, 2022