Stripe to Offer Bitcoin Payments for the First Time with Twitter

Stripe Integration of Stablecoin Payments

Stripe has now accepted crypto payments

In a Friday blog post, the payments firm announced that it had teamed up with Twitter to provide USDC stablecoin payouts for users who earn income through the social media site’s premium products. Users can now cash out the income generated by Twitter Ticketed Spas or Super Follows to Polygon network via a web3 wallet.

A short video clipThe official Stripe Twitter account posted a list of compatible wallets including Rainbow, WalletConnect and Coinbase Wallet. Stripe announced that all crypto payments made via Polygon will be routed through Stripe Connect. This will allow for know-your-customer requirements to be met.

The new Polygon integration marks Stripe’s re-entry into the crypto space after discontinuing support for Bitcoin payments in 2018. John Collison, Stripe’s co-founder, revealed last month that the company has shifted to support crypto business. However, he did not reveal any partnerships. While Stripe likely chose to add payments to Polygon first due to the network’s low transaction fees, the company said it also plans to add options for payment in other cryptocurrencies in the future.

Polygon, which is currently Ethereum’s top scaling solution, has been making strides to usher in mass crypto adoption in recent months. Today, it announced a feature called Supernets to help crypto projects scale their operations across new chains, and it’s also acquired several projects that leverage ZK-Rollups, technology that can help with scaling by processing transactions at a higher speed and lower cost than Ethereum mainnet. Twitter has also shown an interest in cryptocurrency technology. It recently added Bitcoin payments via Lightning Network as well as an NFT authentication feature. Now, it appears ready to embrace the space further with Stripe’s help.

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