Twitter Starts Crypto Payments For Top Creators! Find Out How Will It Work? Which Users Can Opt For Crypto?

Twitter and digital payments processor Stripe will experiment with letting select users of the site’s content monetization products to pay using cryptocurrency.

Overview

Stripe stated that it can now instantly pay its sellers, freelancers, content creators, and service providers using cryptocurrency.

Creators can manage their account details, track earnings in real time, and see upcoming payouts with the Stripe Express app.

Those part of the pilot project eligible are users of Twitter’s Ticketed Spaces and Super Follows programs.

How It Works

The Super Follows feature allows users to earn monthly income by creating an unprecedented level of content and interaction.

Ticketed Spaces lets people make money through live audio experiences on Twitter Spaces.   

They will be able to receive their earnings from the company in USD Coin (USDC), a stablecoin whose value is pegged to the U.S. dollar.

What They Can Do With The Payments

The monetization features were added last year in order to integrate more into the “creator” economy and boost revenues.

Those receiving crypto payments can store them in crypto wallets on the Polygon network or choose to bridge to Ethereum and exchange it into another currency.

Polygon is a crypto infrastructure firm on the ethereum blockchain.

The payments will be routed through Stripe Connect, which will also handle KYC requirements.

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.