Twitter and Stripe have announced the availability of cryptocurrency payouts for Stripe Connect. A select group of Twitter creators will soon be able to receive their revenue in the form of the USD Coin (USDC) stablecoin. Payments will be made over the Polygon (MATIC) network, a layer-2 blockchain notable for its low costs, quick transaction speeds, revolutionary zero-knowledge technology, and integration with Ethereum (ETH).
Twitter and Stripe plan to expand the initiative to over 120 countries by the end of the year.
Crypto payouts now supported on Twitter
As a centralised platform, content creators and freelancers would first need to pace Stripe’s Know Your Customer onboarding tests. Following that, customers may manage their account information, check real-time earnings, and anticipate future payouts into their crypto wallets.
“We’re excited to begin offering crypto payouts to creators via Stripe, so they have more choice in how they get paid,” Esther Crawford, Twitter’s product lead for creators, said.
Twitter offering content creators more tools
Up until now, Twitter’s focus on creators has mostly been on how to provide ways for creators to monetize services that Twitter already provides to all users, so the addition of crypto is an interesting twist that could indicate how that strategy is altering.
While including cryptocurrency in the payout options is an obvious move to entice more creators (and potential customers) who are already dabbling or doing more with cryptocurrencies, it also opens the door to using it in conjunction with creators working with more crypto-native content, specifically NFTs.
Twitter has already established itself as the de facto venue for discussing crypto and NFTs. It’s where individuals learn about and discuss their ideas, as well as the projects they’re investing in.
Some even believe that relationship is part of the reason Elon Musk — SpaceX and Tesla overlord who has frequently focused his trollish attention and viral spotlight on cryptocurrency on the social network — has suddenly become so interested in purchasing Twitter.