Twitter is going to pay its creators in cryptocurrency

Twitter is going to pay its creators in cryptocurrency
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Business

Twitter is going to pay its creators in cryptocurrency

Companies like Twitter can offer creators the option of receiving cryptocurrency payments via Stripe.

04/24/2022

Twitter will begin paying its creators in cryptocurrency. The American microblogging and social networking service provider has teamed up with Stripe. A financial infrastructure platform, and marketplaces to establish a test payment for creators.

Stripe announced in a statement that it may now use cryptocurrency to instantly pay its merchants, freelancers, content creators, and service providers, according to a report.

Stripe will first issue rewards in the form of USD Coin (USDC), a stable coin pegged to the US dollar. The company highlighted that Twitter will use this feature to pay out earnings from Ticketed Spaces and Super Follows.

Through Stripe, companies can offer creators the choice to receive payments in crypto

This option will first be available to a small set of Twitter creators in the United States.

“We’re focused on enabling creators who are driving those conversations make money and connect with their audiences in new ways,” said Esther Crawford, Twitter’s product lead for creators.

We’re excited to start delivering crypto payouts to artists through Stripe so they have additional options for how they get paid.” “With crypto payouts, platforms employing Stripe can instantly send money to verified recipients practically anywhere in the globe,” said Will Gaybrick, Stripe’s chief product officer.

Here's how it works as per Stripe!

Businesses may use Stripe Connect to programmatically pay people in over 70 countries in their local currency.

In addition to receiving cryptocurrency payouts, platforms that use Connect can participate in the Web3 economy without needing to buy and hold cryptocurrency themselves, Cnet reported.

They will be able to promptly pay out to their users in even more countries, as well as improve their services for individuals who choose cryptocurrency over traditional fiat payment methods.

Stripe will initially accept payouts in USDC to Polygon-compatible wallets.

By Elah Mae Ariate Wozinga Staff

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