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Stripe, a leading financial technology company, recently partnered with Twitter to provide cryptocurrency payments to the social media platform's creative community. For the time being, USD Coin (USDC), a stablecoin tethered to the US dollar, will be the sole crypto choice. Previously, Twitter has implemented monetization services such as 'Super Follow,' a paid ticket system for 'Space Events,' and 'Tips.' During the initial testing period, a limited number of Twitter creators will have access to the new system. The Polygon network, which is linked to Ethereum, will be used to process payments.
Users will be able to incorporate Stripe Connect into their websites and stores as a result of the cooperation. Users will be able to select whether to keep the money on Polygon or trade it and buy cryptocurrency after the payments have been received.
Growing Crypto Needs Have Prompted a Modern Vision
Stripe changed its mind on crypto market in general after the Web3 hype of 2021, and the growing demand for a decentralised, blockchain version of the internet spurred the business to develop a Web3-dedicated team to supply crypto solutions for their clients. Several large payment processors, including PayPal, MasterCard, Visa, and others, have already made crypto-related measures.
Stripe has revealed its plan to reintegrate Bitcoin as well to introduce a larger variety of cryptocurrencies by the end of 2022, after dumping Bitcoin over four years ago. Stripe realizes potential of cryptocurrency investment and raised reservations about Bitcoin's adaptation in everyday transactions in 2018, citing their consumers' lack of enthusiasm in crypto payments. The tables, however, have now turned: Stripe spokesperson Esther Crawford stated, "We're committed on helping creators engage with their fans in innovative ways." By the end of the year, the business hopes to have the functionality available in 120 countries.”
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