Stripe to Offer Crypto Payments With Twitter First to Trial

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Stripe to Offer Crypto Payments With Twitter First to Trial
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Stripe will pilot cryptocurrency payments using Ethereum scaling solution Polygon. Twitter will be the first company to test Stripe crypto payments for users of its content monetization product.

Stripe integrates stablecoin payments

Crypto payments have reached Stripe.

In a blog post on Friday, the payments company announced that it has partnered with Twitter to offer USDC stablecoin payments to users who earn income through the social media site’s premium offerings. Selected users now have the option to cash out revenue generated through Twitter Ticketed Spaces and Super Follows to the Polygon Network via the Web3 Wallet.

A short video posted by the official Stripe Twitter account shows that various wallets, including Rainbow, WalletConnect, Coinbase Wallet, and Metamask, are compatible with the new crypto payment feature. Stripe said that all cryptocurrency payments cashed through Polygon will be made through Stripe Connect, which will also handle know-your-customer requests.

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The new Polygon integration marks Stripe’s re-entry into crypto after it stopped supporting bitcoin payments in 2018. Last month, Stripe co-founder John Collison revealed that the company has turned to support crypto businesses, but did not disclose any specific partnerships. While Stripe may choose to add payments to Polygon first due to the network’s lower transaction fees, the company said it also plans to add payment options for other cryptocurrencies in the future.

Polygon, currently the top scaling solution for Ethereum, has been making strides to usher in mass adoption of the cryptocurrency in recent months. Today, it announced a feature called Supernets to help crypto projects expand their operations on new chains, and it has also acquired several projects that leverage ZK-Rollups, a technology that can be used at higher rates than the Ethereum mainnet. Speed ​​and lower cost of processing transactions to help scale. Twitter has also shown a clear interest in supporting cryptocurrency technology, recently adding Bitcoin payments and NFT authentication capabilities via the Lightning Network. Now, it seems ready to embrace the space even further with the help of Stripe.

Disclosure: At the time of writing, the author of this article owns ETH and several other cryptocurrencies.

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