Stripe to Offer Crypto Payments With Twitter First to Trial
Share this article
Stripe will pilot cryptocurrency payouts using the Ethereum scaling solution Polygon. Twitter will be the first company to test Stripe’s crypto payments for users of its content monetization products.
Stripe Integrates Stablecoin Payments
Crypto payments have arrived on Stripe.
In a Friday blog post, the payments firm announced that it had teamed up with Twitter to provide USDC stablecoin payouts for users who earn income through the social media site’s premium products. Now, selected users can choose to cash out revenue generated through Twitter Ticketed Spaces and Super Follows to the Polygon network via a Web3 wallet.
A short video clip posted by the official Stripe Twitter account shows various wallets, including Rainbow, WalletConnect, Coinbase Wallet, and Metamask, are compatible with the new crypto payments feature. All crypto payments cashed out via Polygon will be routed through Stripe Connect, which will also handle know-your-customer requirements, Stripe said.
The new Polygon integration marks Stripe’s re-entry into the crypto space after discontinuing support for Bitcoin payments in 2018. Last month, Stripe co-founder John Collison revealed that the company had pivoted to supporting crypto business but did not disclose any specific partnerships. While Stripe likely chose to add payments to Polygon first due to the network’s low transaction fees, the company said it also plans to add options for payment in other cryptocurrencies in the future.
Polygon, which is currently Ethereum’s top scaling solution, has been making strides to usher in mass crypto adoption in recent months. Today, it announced a feature called Supernets to help crypto projects scale their operations across new chains, and it’s also acquired several projects that leverage ZK-Rollups, technology that can help with scaling by processing transactions at a higher speed and lower cost than Ethereum mainnet. Twitter, too, has shown a clear interest in supporting cryptocurrency technology, recently adding Bitcoin payments via Lightning Network and an NFT authentication feature. Now, it appears ready to embrace the space further with Stripe’s help.
Disclosure: At the time of writing, the author of this piece owned ETH and several other cryptocurrencies.
Share this article
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
Polygon Unveils Supernets, $100M Grants Package
Polygon has unveiled a set of new customizable “Supernet” chains. The Ethereum scaling solution has also announced $100 million in grants to encourage development using its new product. Polygon Announces…
Stripe Gets Back Into Crypto
Stripe announced today the addition of many crypto features to support crypto businesses. These include crypto exchanges, fiat on-ramps, wallets, and non-fungible token marketplaces. Stripe Supports Crypto The $95 billion,…
Stripe Is Hiring for Its Crypto Team
Payments giant Stripe is hiring for its new crypto team. Its stated purpose is to “build the future of Web3 payments.” Stripe Head of Engineering and Crypto Puts Out the…
