Twitter partners with Stripe to launch the USDC payout program for its creators

As per a recent announcement, the social media giant and the home of the crypto community, Twitter, has joined hands with the crypto-focused payment processor Stripe. The two firms would work together to roll out crypto payouts for Stripe Connect.

Twitter creators to get payouts in crypto

According to the two firms, a select set of Twitter creators will soon be able to get their earnings in the form of the USD Coin (USDC) stablecoin on the platform. Payments will be made on the layer-2 blockchain Polygon (MATIC) network, known for its low costs, fast transaction speeds, innovative zero-knowledge technology, and Ethereum integration.

As a centralized platform, freelancers and content creators would have to go through Stripe’s Know Your Customer onboarding process. They can then update their account information, check real-time earnings, and receive notifications about upcoming distributions into their crypto wallets.

Introducing crypto payouts: https://t.co/xJnpLmsBKn. pic.twitter.com/PJQ2oTaU7J

— Stripe (@stripe) April 22, 2022

Twitter and Stripe intend to expand the initiative to over 120 nations by the end of this year. The Product lead for creators at Twitter, Esther Crawford, commented on the new partnership by stating:

“We’re focused on helping creators who drive 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.”

Recently, the world’s richest man, who is also the CEO of Tesla, Elon Musk, was planning a “hostile takeover” of Twitter. Musk has stated that if his bid for the firm is successful, his top pledges will be to reduce the number of crypto scam tweets on the platform and maybe add a Dogecoin (DOGE) payment method for the company’s Twitter Blue monthly subscription service.

The idea of payouts in crypto is not new and has been proposed by many big names. As we reported, in January, NCY Mayor and crypto proponent Eric Adams received his first crypto paycheck.