The Stripe Connect platform helps artists, musicians and content creators like us here on Leo Finance, easily receive payments and connect with their audience. Twitter currently uses Stripe Connect to pay the platforms content creators. It is integrated with the Super Followers, Tips and Ticketed Spaces features that Twitter offers.
Beginning Friday, a select number of Twitter users will be able to opt-in to receive their earnings in the form of USDC. USDC is a stablecoin similar to UST where 1 USDC token equals 1 U.S. dollar, however USDC is more centralized and less stable than UST.
Stripe stated that the payout for these Twitter users will be done using Polygon network. This Ethereum sidechain is extremely popular for its ability to scale and connect Layer 1 blockchains. Polygon supports many of the most popular wallet applications including MetaMask, Coinbase and XDefi. Additionally Polygons low fees, fast transaction speeds, and its ability to integrate into other networks easily makes it the perfect choice for this pioneering move.
Stripe did mention that they have plans to connect to other networks to expand their payout options. It may not be long before your latest viral tweet will be earning you UST.
This move is huge for the integration of crypto into social media and into payment processing. Stripe making the move into using stablecoins in payments shows the growing acceptance for stablecoins and a good sign for future crypto regulations. This decision will have an impact far beyond Twitter and is an import step in allowing us to be fully bankless.
