Twitter to allow crypto payments via Stripe on Polygon

Twitter to allow crypto payments via Stripe on Polygon

Twitter to allow crypto payments via Stripe on Polygon

Twitter has teamed up with the fintech giant Stripe, announcing that they will start crypto payouts to content creators on the social media platform.

This service is available for any platforms or marketplaces that link up with Stripe, and is made available thanks to an integration with Polygon’s blockchain wallet.


Pay-peer-view

Twitter monetization programs allow content creators to restrict certain content to a paying audience and to create “ticketed spaces” for digital live events. Twitter users can also receive “super follows” from subscribers who wish to pay to have access to bonus content, and to increase the chances of interaction with the user that they are following.

Initial crypto payments from Twitter will be made via Stripe, a payment processing company valued at $95 billion and ranked as the most valuable U.S. startup.

The FTX exchange also recently chose Stripe to optimize their "fiat to crypto" process in a way that makes the investment as seamless as possible for their growing number of customers.

These are the first attention-grabbing steps back into the crypto business since Stripe discontinued crypto support back in 2018.


Web3 is coming

Stablecoin USDC, which has been deployed on multiple blockchains including Polygon, has been chosen as the initial cryptocurrency with which to pay Twitter content creators.

Polygon itself has also been deploying a new project called Supernets, which pledges up to $100 million to web3 developers with the aim of helping Polygon and the MATIC token enter web3 ecosystems.

The project is intended to be a “fast-track for blockchain adoption in new private and public networks for dApps and enterprises alike.”

The new project comes as a result of a recent round of funding worth $450 million, in which Polygon was backed by venture capital funds such as Sequoia Capital India, SoftBank Vision Fund 2, Galaxy Digital, Tiger Global and Republic Capital.This comes on the back of another $200 million initiative created last December by Polygon and VC firm Seven Seven Six, to promote projects that operate at “the intersection of web3 and social media.”

Polygon rose to prominence as an Ethereum “Layer 2” scaling solution, which can lighten the load of the Ethereum mainchain. It does this by linking up with Ethereum and processing transactions off-chain.

This content is for informational purposes only and is not investment advice. You should consult a qualified licensed advisor before engaging in any transaction.

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