April 22 (Reuters) – Twitter Inc (TWTR.N) and digital funds processor Stripe Inc will pilot cryptocurrency payouts for choose customers of the social media website’s content material monetization merchandise, the businesses introduced on Friday.
Eligible customers of Twitter’s Ticketed Areas and Tremendous Follows applications will have the ability to obtain their earnings from the corporate in USD coin, a stablecoin whose worth is pegged to the U.S. greenback.
Twitter added the monetization options final yr in an effort to combine extra into the “creator” economic system and enhance revenues.
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Customers who obtain crypto funds can maintain their earnings in crypto wallets on the Polygon community, a crypto infrastructure agency on the ethereum blockchain, and might then alternate them into different currencies.
The crypto funds will likely be routed by Stripe Join, which may even deal with know-your-customer necessities, Stripe stated.
Stripe plans so as to add choices for fee in different cryptocurrencies sooner or later, the corporate stated.
Twitter is within the midst of a takeover try by Tesla (TSLA.O) head Elon Musk, a outstanding determine within the cryptocurrency world who has used the platform to advertise bitcoin and “meme cash” like dogecoin.
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Reporting by Lisa Pauline Mattackal in Bengaluru; Enhancing by Shailesh Kuber
Our Requirements: The Thomson Reuters Trust Principles.
