The Twitter creators will be paid in cryptocurrency. Microblogging and social networking service firm Twitter joined forces with Stripe, a financial infrastructure platform, and marketplaces, to launch a pilot payout program.
According to a statement from Stripe, it’s now possible to instantly pay sellers, freelancers, content creators, and service providers using cryptocurrency. Stripe said that all earnings from Ticketed Spaces and Super Follows will be paid out through this feature. Initially, this will be offered only to a small group of Twitter’s US creators.
Esther Crawford, product lead for creators at Twitter said, “We’re focused on helping creators who are driving those conversations earn money and connect with their audiences in new ways. We’re excited to begin offering crypto payouts to creators via Stripe so they have more choice in how they get paid.”
“With crypto payouts, platforms using Stripe can send money to verified recipients nearly anywhere in the world, instantaneously,“ said Will Gaybrick, chief product officer at Stripe.
Creators can manage their account details, track earnings in real-time, and see upcoming payouts with the Stripe Express app. In order to boost revenues and integrate more into “creators economies”, monetization features were added last year.
Crypto payments can be stored in crypto wallets on the Polygon network, or they can be bridged to Ethereum and converted to another currency. Polygon is a crypto infrastructure firm on the Ethereum blockchain.
Stripe Connect will deal with KYC requirements as well as handle payments. Stripe plans to add options for payment in other cryptocurrencies in the future. And by year-end, it is planning to support crypto payouts in more than 120 countries
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