Stripe Partners with Connect to Enable Crypto Payouts on Twitter

Financial infrastructure platform Stripe is adding crypto payouts to Stripe Connect, its solution for enabling payments into marketplaces and software platforms. The social media giant Twitter will be the first to use it to allow crypto payouts.

Twitter already uses Connect to offer various monetization services for users including tips, super flows and ticketed spaces events. Currently, Connect is available in 70 countries. This gives the potential to expand Twitter's monetizing service at some point.

Through Stripe, creators will be able to have their earnings paid out to a crypto wallet. Stripe will handle all crypto-related operations.

According to a blog post published by the company, initially, Stripe will support Twitter payouts in the US dollar-pegged stablecoin USDC. Payouts will be processed through the blockchain platform Polygon.

Stripe mentions that they chose Polygon as it offers low fees, speed, Ethereum integration and supports various wallets. Receiving earnings, creators will be able to hold their balance on Polygon, move the funds, or change them into other currency.

Stripe plans to add support for payout currencies in the future. Product Lead for Creators at Twitter, Esther Crawford said that the company is excited to offer crypto payouts to creators via Stripe so they have the ability to choose between various payment options.