Crypto Adoption: Payments Giant Stripe Rolled Out Crypto Payments Pilot On Twitter

It’s been just revealed that more moves are taking place that are supporting mass crypto adoption. Check out the latest reports below.

It’s been just revealed that the payments processing firm Stripe is testing out a new pilot program to allow users to make payments using crypto assets on Twitter.

According to a new company blog post and accompanying tweet, Stripe has massive plans of broadening the reach of its global payments program by incorporating digital assets.

“While the ‘store of value’ aspects of cryptocurrencies typically receive the most attention, we view the prospect of ‘open-access global financial rails’ as being at least equally compelling. As a result, we’ve been exploring ways to use cryptocurrency-based platforms to unlock broader access.”

The same notes also say the following:

“Today, we’re introducing crypto payouts for Connect. With crypto payouts, a select group of creators on Twitter – our first partner – will be able to use cryptocurrency-based rails to receive their earnings from Twitter.”

The pilot program will initially only support stablecoin USD Coin (USDC) and use layer-2 Ethereum (ETH) scaling solution Polygon (MATIC) to process the payments.

It’s been also revealed the fact that Stripe notes that they eventually plan to support more virtual assets and processing networks.

Introducing crypto payouts: https://t.co/xJnpLmsBKn. pic.twitter.com/PJQ2oTaU7J

— Stripe (@stripe) April 22, 2022

“Stripe will initially support payouts in USDC, a stablecoin pegged to the US dollar. This will enable many people who wouldn’t otherwise be able to hold dollars to do so.”

More than that, it’s important to note that the payouts will take place over the Polygon network, “which we chose for its low fees, speed, integration with Ethereum, and broad wallet compatibility.”

There are all kinds of moves that are supporting mass crypto adoption these days. Stay tuned and check out the crypto market as well.