Twitter to test USDC payments via Stripe

Stripe, a provider of financial infrastructure for online businesses, has added support for payments in the stablecoin USDC on the Polygon blockchain. Twitter will be the first user of the solution.

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

— Stripe (@stripe) April 22, 2022

The new capability is implemented in Stripe Connect — the system for integrating payments into online marketplaces.

The company noted that Twitter will use the tool to pay content creators revenue from monetized products such as Ticketed Spaces and Super Follows. A selected group of authors will now be able to opt for payment in the stablecoin.

“Twitter is a place where people go to talk about what’s happening. We are focused on helping creators who drive these conversations to earn money and engage with their audience in new ways. We are pleased to offer crypto payments through Stripe, so they have more choice,” said Esther Crawford, Twitter’s Director of Product.

Stripe cited Polygon’s low fees, high transaction speeds, integration with Ethereum, and compatibility with a large number of wallets as reasons for the choice.

The provider intends to add support for other cryptocurrencies in the future. By the end of 2022, Stripe plans to expand the ability to pay with digital assets to more than 120 countries.

Earlier in March, the company announced support for crypto companies, including exchanges, wallet providers and NFT marketplaces.