Stripe’s New Cryptocurrency Payments for Creators
Stripe, an online payment processing integrated platform, is now teaming up with Twitter to allow users on the social media site to earn with cryptocurrency.
This follows after Twitter added monetization features to the site.
With plans to get on board with the creator economy, Stripe is integrating cryptocurrency payments so that digital creators and social media influencers can have the option to financially thrive on various markets.
With this feature, creators can store their earnings in crypto wallets on the Polygon network and can convert them to other currencies. Polygon network is a crypto infrastructure that connects multiple currencies in the Ethereum blockchain.
However, this crypto payment feature comes with limitations as it is only accessible to Twitter users who are part of the social media platform’s Ticketed Spaces and Super Follows programs.
Users may also find limited transactions challenging in the midst of the rising trends of digital investments and demand for cryptocurrency. As of 2022, the Polygon network can only accommodate 65,000 transactions per second.
Stripe’s move to expand to cryptocurrency payments comes at a time when the company has seen a profitable increase of its valuation on the stock market. The company is currently worth $95 billion and rumoured to go public soon.
As a payment processing platform, Stripes offers features that companies and creators can integrate into their platform for convenient payment experiences. Spotify, Clubhouse, Substack, among other apps and websites, use Stripe’s features for payment methods.