Online payments platform Stripe has announced a pilot programme in partnership with Twitter for a global cryptocurrency payments mechanism. Called Connect, the payment gateway will help services integrate crypto payments to their platforms, and the first service it will premiere with is Twitter.
In a blog post announcing the launch of Connect, Stripe said that the pilot programme will only be available to a select number of creators in USA. These creators will be able to receive crypto payments for Ticketed Spaces and Super Follows, and will be paid in USDC – a stablecoin linked to the United States Dollar.
Stripe said in a statement that their Connect crypto payments service presently supports only USDC, and all wallets compatible with the Polygon blockchain – such as Metamask and Coinbase Wallet – are supported as of now. Support for additional blockchain networks and cryptocurrency tokens, which will expand the range of wallets that users can receive payments to – and tokens that users paying can pay through.
Ticketed Spaces on Twitter include talks and conversations that creators can host on the social media platform, which would only be accessible to users in exchange for a fee. Super Follows, meanwhile, is a way for content creators on the platform to earn through subscriptions. Those with Super Followers on Twitter can create content exclusively for their subscribers in exchange for a fee – which can now be paid in USDC through Stripe Connect.
The two features are part of a number of ways through which Twitter has attempted to monetise its platform. However, this is not the first time that Twitter has worked with crypto payments. Last year, Twitter introduced ‘Tips’, which allows users on the platform to receive payments or donations. The company already supports crypto tokens through these ‘tips’.
As of now, Ticketed Spaces and Super Follows are not available for Twitter in India. While Twitter has not officially offered a timeline for when the services and their respective crypto compatibility might be rolled out, the same may be introduced to more Twitter creators once Stripe expands the compatibility of more crypto tokens on its gateway.