Twitter News: Twitter, Stripe pilot cryptocurrency payments for creators

Twitter Inc. and digital payments processor Stripe Inc. will conduct cryptocurrency payments for select users of the social media site’s content monetization products, the companies announced Friday.

Eligible users of Twitter’s ticketed location and super follow programs will be able to receive their earnings from the company in USD Coin, a stablecoin whose value is pegged to the US dollar.

Twitter added monetization features last year in an effort to integrate more into the “maker” economy and increase revenue.

Users receiving crypto payments can keep their earnings in a crypto wallet on the Polygon Network, a crypto infrastructure firm on the Ethereum blockchain, and then convert them into other currencies.

Stripe said crypto payments will be routed through Stripe Connect, which will also meet the needs of your customers.

The company said that Stripe plans to add payment options in other cryptocurrencies in the future.

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Twitter is in the midst of an acquisition attempt by Tesla chief Elon Musk, a prominent figure in the cryptocurrency world who has used the platform to promote bitcoin and “meme coins” such as Dogecoin.

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