Stripe Tests Out New Crypto Payment System On Twitter
Stripe will give Twitter creators a new way to receive payments via cryptocurrencies, although for now the options will be limited.
Those who use the platform to create content will be given the option to get paid in USDC, which is considered a “stablecoin” cryptocurrency which has a close connection to the US dollar.
It’s worth pointing out that this new system, which will be integrated in Stripe’s Connect payment processor, is still in the testing phase. The payments will be made on the Polygon network, a blockchain which is closely tied to Ethereum, with users then choosing on whether they want to keep them there or exchange them into a different currency.
Stripe has stated that for now, it will only support USDC , but there are plans in place for additional currencies in the future. The company has added that it hopes to be able to expand this payment system in over 120 nations across the world by the end of 2022, although it remains unknown when it will expand to other platforms beyond Twitter.
This poses a major shift in attitude by the company towards cryptocurrencies as back in 2018 they dropped them entirely, pointing out that there wasn’t enough public interest in them.
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