Twitter launches cryptocurrency payouts for its users

TL;DR Breakdown

• Twitter, via Stripe, consistently promotes crypto on the social media platform.
• Tests with cryptocurrency payouts on the social platform start today.

Twitter, one of the largest microblogging servers on the internet, will allow cryptocurrency payouts for all content creators and authors. This development is powered by technology from the US financial services company, Stripe.

The Twitter manager had spoken about his soft spot towards cryptocurrencies a few months ago. According to reports, the company will process payments in stablecoins due to the almost zero price volatility and profitability in commission rates.

Stripe financial server covers Twitter ambitions with cryptocurrency payouts

Stripe, an Irish-American financial server founded in 2010, appears to be facilitating Twitter’s ambitions regarding cryptocurrencies. The company will lend its platform for stablecoin transactions between content authors and users within the network. Stripe aims to use the USDC token on the microblogging platform to serve that purpose, which would have a value equal to the US dollar.

The social platform would be doing field tests to see crypto technology’s results for now. Content authors can offer premium content under cryptocurrency payouts.

Stripe promotes this idea on Twitter after acknowledging that the website does not have a compensation option for its users. Twitter’s manager agreed to integrate cryptocurrency payouts because it drives the growing crypto market.

Connect payments: A new online feature

Stripe and Twitter are pleased to unveil Connect Payment, a new feature that would come into effect within the platform. This feature will not only be supported by Stripe but also by the entire group that comprises the content network. So far, Connect Payment will be available in about 70 countries, including the United States and some European territories.

Connect Payment will allow creators to give value to their latest tweets; monetization for super follows, and ticketed spaces may also be included. Even though the project is in a test version, the platform manager says that the wallets linking to the author’s profile will be soon included. In this way, all the person’s profits will fall directly into their crypto wallet.

Stripe will be the intermediary and do everything possible to keep the gas rate in transactions low. Twitter is expected to announce Connect Payment‘s launch officially, and it will be available to the general public. The integration method for the extension will be in stages, starting with the countries with the most creators. Finally, Connect Payment will be available to everyone within the next two years.