Stripe Crypto Payment Launches as Twitter Creators Get First Trial

• Stripe has announced that starting from today, it will begin offering merchants the option to pay their customers in cryptocurrency.

• The Stripe crypto payment initiative supports the transfer of USDC stablecoin between merchants and users.

• The company begins by partnering with Twitter to allow some creators receive their earnings in crypto.

Stripe has announced that it will now allow businesses to pay their users via cryptocurrencies. The online payment firm revealed that merchants will be able to make payments in cryptocurrency using the USDC stablecoin.

The stripe crypto payment feature launches on Twitter before any other platform. The two companies have partnered to allow some Twitter creators to receive their earnings in the USDC stablecoin.

Stablecoins are digital tokens that are pegged to the value of fiat currencies. The USDC, which is used in this case, is pegged to the value of the U.S dollar. This means that 1 USDC is approximately $1 at all times.

Twitter, which has been the subject of a takeover bid, will integrate the cryptocurrency payment method from today, April 22. 

This is not the first crypto payment feature that will be implemented by the social media company. Earlier this year, Twitter launched a tip jar feature that will allow creators to receive their tips in crypto.

Stripe, however, this crypto payment initiative is its first foray into the industry in more than 4 years. In 2018, the San-Francisco-based startup stopped accepting payments via Bitcoin.

The company claimed that the crypto service was canceled due to BTC’s volatile price swings. It also cited the lack of efficiency of the flagship cryptocurrency for making daily transactions.

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