It is now possible to make crypto payments using Stripe. The fintech giant has launched its crypto payment feature.
Stripe is an online payment processor for business. It is used by a large number of businesses in over 70 countries.
Stripe is used for providing its users with multiple payment options.
Users can easily pay the business owners through Stripe via Wallet, Credit Card, Debit Card, Bank Transfer, etc. Now along with the usual payment options, Stripe has added a crypto payment option.
Merchants will be able to receive crypto payments in USDC Coins, the stable coin that is pegged to the US Dollar.
Social networking company, Twitter is Stripe’s first partner to use its crypto payout feature.
People who use Twitter’s monetization products Ticketed Spaces and Super Follows to earn money can now get paid in cryptocurrency.
As of now, this option is not available for everyone, it is initially provided to a small number of Twitter US creators. Creators who got the feature can receive payments in their crypto wallets if they opt.
“Twitter is where people go to have conversations about what’s happening. 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,” said Esther Crawford, product lead for creator monetization at Twitter.
Stripe initially supports payouts in USDC to wallets compatible with the Polygon Network, a blockchain network built on top of Ethereum.
In the future, Stripe will support more cryptocurrencies and various blockchain-compatible wallets.
Making international payments is a headache in some countries. Making international payments with cryptocurrency is a matter of minutes, so companies like Stripe are attaching great importance to crypto payments, trying to make it easier between businesses and individuals.
Stripe is planning to make its crypto payout available in 120 countries by the end of the year according to a blog post by the product manager of Stripe.
Chief Product Officer of Stripe said, “Making commerce more global is one of the most powerful ways we’re going after our mission to increase the GDP of the internet. Because crypto protocols are global by default, they’re a natural vector for doing this. With crypto payouts, platforms using Stripe can send money to verified recipients nearly anywhere in the world, instantaneously.“
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