Stripe set for new crypto pilot on Twitter.
Payment giant Stripe is set to launch a new crypto pilot on Twitter as part of the extension of its Connect service. Stripe’s Connect service lets businesses connect with the firm’s payments APIs, including KYC onboarding. The service, which is available in over 70 countries, accommodates various payment methods and currencies. The latest pilot programme comes after the firm began servicing crypto companies.
Stripe’s new crypto pilot programme shows its intention of including digital assets in its service. An official statement highlighted that the store of value aspects of cryptocurrencies typically receive the most attention. Stripe sees the prospect of “open-access global financial rails” as being equally compelling. The payments company has been exploring ways to use cryptocurrency-based platforms to unlock broader access.
And this led to the launch of the crypto payouts pilot. It will offer a select group of creators on Twitter – the option to get paid in crypto. This will be executed on the speedy crypto network Polygon. Initially, it will only support Circle’s USDC stablecoin. Stripe said that adding other networks beyond Polygon was on its agenda. In the pilot program, Twitter users will be allowed to opt-in to receive their payouts in USDC. It can be bridged to the Ethereum blockchain or just hodl on Polygon.
Furthermore, Twitter’s monetization services such as Super Follows and Ticketed Spaces will integrate the pilot. Users can create unique, paywalled content for followers through Super Follows, and users can charge followers to enter Live Spaces events through Ticketed Spaces.