Saturday, December 10, 2022

Payments Company Stripe Will Pilot Payouts With Twitter

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Payments company Stripe will pilot payouts with Twitter as it continues its endeavors with its new program that will allow users to get paid in USDC as we can see more today in our cryptocurrency news.

Stripe’s latest announcement could make it easier for creators around the world to hold dollars. In this small step, the payments company Stripe is launching a new crypto pilot on Twitter and this move comes as a part of the expansion strategy whcih will allow businesses to connect with the company’s payments APIs including its KYC onboarding. The service allows for different payment methods and currencies and it is available in over 70 countries. Today’s news only shows Stripe’s intention of including crypto in the services and cited difficulties in continuing to expand the company’s coverage:

“While the ‘store of value’ aspects of cryptocurrencies typically receive the most attention, we view the prospect of ‘open-access global financial rails’ as being at least equally compelling. As a result, we’ve been exploring ways to use cryptocurrency-based platforms to unlock broader access.”

stripe

The exploration led to the launch of the crypto payouts pilot that offers a select group of creators the option to get paid in crypto. The payouts will be executed on the Polygon network and will support Circle’s USDC stablecoin and added that other networks beyond Polygon are also on the agenda. Twitter users included in the pilot will be allowed to choose to receive their payouts in USDC and bridge them to the ETH blockchain or hold on to Polygon.

Twitter’s monetization services like Ticketed Spaces and Super Follows are expected to integrate into the pilot. Super Follows will allow users to create unique content for their followers and the ticketed spaces allow users to charge followers to enter the event and Stripe’s pilot offering that came to enter the event. The pilot offering came a month after the company started servicing crypto companies and on the list so far are FTX, Nifty Gateway, and Blockchain.com.

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As recently reported, Stripe Payment Giant embraces the world of crypto once again and today the payments giant launched a crypto service and offered businesses the ability to use Stripe as a payment method for using crypto and NFTs. Stripe is offering payout services for Web3 companies as well as KYC and fraud prevention.

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