April 22 (Reuters)-Twitter Inc (TWTR.N) The two companies announced on Friday that Stripe Inc, a digital payment processor, will pilot cryptocurrency payments to some users of content monetization products on social media sites.
Eligible users of Twitter’s Ticketed Spaces and SuperFollows programs can receive revenue from the company in USD coins, which are stablecoins fixed in US dollars.
Last year, Twitter added a monetization feature to further integrate into the “Creator” economy and increase revenue.
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Users who receive cryptocurrency payments can retain their revenue in the cryptocurrency wallet of Polygon Network, the cryptocurrency infrastructure company of Ethereum Blockchain, and exchange it for other currencies.
According to Stripe, cryptocurrency payments are routed through Stripe Connect and also handle the requirements to know the customer.
Stripe plans to add payment options in other cryptocurrencies in the future, the company said.
Twitter is in the midst of a Tesla acquisition attempt (TSLA.O) He leads Elon Musk, a prominent figure in the cryptocurrency world who has used the platform to promote “meme coins” like Bitcoin and Dogecoin.
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Report by Lisa Paulin Matakkar in Bangalore; edited by Shailesh Kuber
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