Stripe, the online payments company, announced on Friday that it will begin allowing Twitter stars to be paid in a dollar-pegged form of cryptocurrency payouts, the company’s latest endorsement of digital money.
Stripe stated in a blog post that it is eager to expand the option to other online platforms where “creators” who attract audiences are provided with ways to make money such as subscriptions and access to exclusive content.
“We’re focused on helping creators who drive those conversations earn money and connect with their audiences in new ways,” Twitter creator’s product lead Esther Crawford said in the post.
“We’re excited to start offering cryptocurrency payouts to creators through Stripe, giving them more options for how they get paid.”
The feature debuts as Twitter tries to fend off an unwanted bid for the one-to-many messaging platform by billionaire Elon Musk, and as cryptocurrency supporters strive to make it mainstream.
Stripe will work behind the scenes to enable a “select group” of popular Twitter figures to be paid in USDC stablecoin pegged to the US dollar, according to the companies’ post.
“With crypto payouts for Connect, Twitter will enable creators who opt in to have their earnings paid out to a cryptocurrency wallet,” according to the blog post.
“Many people who would not otherwise be able to hold dollars will be able to do so as a result of this.”
According to the company, the Stripe Connect payment system is used to send money to more than 70 countries.
In the future, the financial technology firm intends to add more partners, countries, and cryptocurrencies.
Stripe used to accept bitcoin transactions but stopped in 2018, citing timing and fee concerns. Its strategy has recently shifted, with the announcement of partnerships with crypto exchange platforms FTX and Blockchain.com.
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