The digital payments platform Stripe fulfills its desire to enter the cryptocurrency segment, as it already made clear its intentions about six months ago, with the launch of the crypto payments function to Connect, its platform that offers programmable toolkits and APIs for the integration of payment functions in third-party solutions, already available in 70 markets with their respective local currencies.
Introducing crypto payouts: https://t.co/xJnpLmsBKn. pic.twitter.com/PJQ2oTaU7J
— Stripe (@stripe) April 22, 2022
The first partner in the venture with cryptocurrency payments is the well-known social media platform Twitter, where Twitter has already been using Connect for some time to enable payments to creators.
As we already know, Twitter is using Connect on a limited, trial basis to enable creators to monetize their work through paid features such as Tips, Super Follows and events in Spaces live audio chats.
In this way, Twitter creators will be able to start receiving payments in cryptocurrencies, and will do so initially in USDC, which is a stable currency pegged to the value of the US dollar, taking transactions through the Polygon network, being the chosen option for its low processing fees, for being part of Ethereum, and for being compatible with various digital wallet platforms such as MetaMask, Coinbase Wallet and Rainbow.
For Stripe:
Once creators receive their earnings, they can keep their balance in Polygon or choose to connect to Ethereum and exchange it for another currency …We plan to add support for additional rails and payment currencies over time
With this move, Twitter creators will be able to start earning money through cryptocurrencies, being an interesting step that could generate such an interest that allows the arrival of new creators to the platform, especially those who may have special interest in the cryptocurrency segment.
But Stripe’s commitment to cryptocurrencies goes even further, to such an extent that last month it launched an API and a series of tools to enable developers to integrate its cryptocurrency payment solutions into applications and services.