Business

Twitter and Stripe Launch USDC Developer Payout Program via Polygon

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On Friday, Twitter and Stripe announced the launch of crypto payouts for Stripe Connect. As the two companies announced, a select group of developers on Twitter will soon be able to receive their earnings on the platform in the form of the USD Coin (USDC) stablecoin. Payments are made over the Polygon (MATIC) network, a Layer 2 blockchain known for its low fees, fast transaction speeds, innovative zero-knowledge technology, and integration with Ethereum (ETH).

As a centralized platform, content creators and freelancers would first have to go through the know-your-customer onboarding checks performed by Stripe. They can then manage their account details, track real-time earnings and upcoming withdrawals in their crypto wallets.

By the end of the year, Twitter and Stripe plan to expand the program to over 120 countries. As for the development Esther Crawford, Product Lead for YouTubers at Twitter, commented:

“We’re excited to offer developers crypto payouts through Stripe, giving them more choice in how they get paid.”

At the time of publication, Twitter is being targeted for a “hostile takeover” by billionaire entrepreneur and Tesla CEO Elon Musk. As Musk said, if his bid is successful for the company, his main promise is to reduce cryptocurrency tweets distributed through the platform and potentially introduce a Dogecoin (DOGE) payment option for its monthly subscription service, Twitter Blue.