Payment giant Stripe has partnered with Twitter to pay creators their earnings made on the platform in cryptocurrency, through Stripe Connect.
- Creators will be able to receive their earnings in the form of ERC-20 stablecoin USD Coin ($USDC), through the Polygon ($MATIC) network. Polygon is a Layer 2 chosen for its low fees, fast transaction speed, and integration with Ethereum. Stripe plans to add support for “additional rails and payout currencies over time.”
- Stripe Connect aims to make participation in the online economy easier for those who stand to benefit the most. Crypto makes this process easier, eliminating the complexity involved in supporting diverse local payment systems.
- The pilot will only be tested on a select group of creators at the moment who need to pass Know Your Customer onboarding checks by Stripe.
- Twitter is Stripe Connects first partner for crypto payouts. The company plans to support crypto payouts in more than 120 countries by the end of the year.