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Creators begin earning cryptocurrency payments from Twitter and Stripe.

By Dr.Dang May 16, 2022, 10 a.m.
Creators begin earning cryptocurrency payments from Twitter and Stripe.

A small group of US creators who utilize Twitter's content monetization products will receive cryptocurrency payouts from Twitter Inc and Stripe Inc. Twitter has partnered with digital payments processor Stripe, and the two companies made the announcement about this new development on Friday. 

Creators begin earning cryptocurrency payments from Twitter and Stripe.

Twitter has special monetized programs like Twitter Ticketed Spaces and Super Follow programs. Users who are qualified for these programs will receive their cryptocurrency dividends from Twitter in USD coin. This stablecoin has a value that is fixed to the U.S dollar. 
Last year, Twitter added the monetization features into its networking service. The goal was to invite more users into the "creator" economy and to increase the income. Stripe has confirmed that sellers, freelancers, content creators, and service providers can now receive their earnings instantly through cryptocurrency.
"We’re focused on helping creators who are driving those conversations earn money and connect with their audiences in new ways. We’re excited to begin offering crypto payouts to creators via Stripe so they have more choice in how they get paid." Esther Crawford, product lead for creators at Twitter, said.

Crypto Wallets And Polygon Networks

Users who are paid in cryptocurrency can store their income in crypto wallets on the Polygon Network. The Polygon network is a crypto software on the Ethereum blockchain (an open source cryptocurrency that involves smart contracts). Once their earnings are in the Polygon network, users can then exchange them from USD coin into other currencies. 
Stripe Inc said that the crypto payments will be transferred through Stripe Connect. This platform enables businesses and platforms to pay out to people from over seventy countries, all in their local currencies. Stripe Connect will also deal with know-your-customer requirements. 
Stripe also reported that, in the future, it plans to include options whereby users can be paid in other cryptocurrencies aside from USD coin. This will enable platforms and their end users to track and manage their cryptopayments in the Stripe Dashboard.
"With crypto payouts, platforms using Stripe can send money to verified recipients nearly anywhere in the world, instantaneously,“ Will Gaybrick, chief product officer at Stripe, said.
Amidst all these, Twitter is at risk of a takeover attempt from Tesla head, Elon Musk, an iconic figure in the cryptocurrency world. Elon Musk has also used Twitter to popularize Bitcoin and "meme coins" like dogecoin. 

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