Fintech firm Stripe is espousing the benefits of Stripe Connect, which enables select creators on Twitter to use cryptocurrency-based rails to receive earnings from the social networking service.
Twitter utilizes Stripe Connect to pay creators earnings from its monetization products, including Ticketed Spaces and Super Follows. Stripe is slated to address crypto-related complexity and operations, per officials, and platforms can avoid the challenges of acquiring, storing, or transferring crypto.
“Twitter is where people go to have conversations about what’s happening,” Esther Crawford, Twitter’s product lead for Creators, said. “We’re focused on helping creators who drive 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.”
Per Stripe, once a user links a crypto wallet, they will be able to view a new USDC balance on their Express account, enabling the ability to transfer funds into the balance, with the funds paid out to their linked crypto wallet instead of their bank account.
Users can specify transfers in USD, and it automatically converts to the preferred currency of recipients, providing a unified integration across fiat and crypto payouts.