Stripe Taps Polygon Network to Enable Twitter Users to Receive USDC Payments

Stripe Taps Polygon Network to Enable Twitter Users to Receive USDC Payments.

Popular fintech company Stripe has announced that it will be collaborating with microblogging platform Twitter to enable content creators to receive cryptocurrency payments. 

According to a Bloomberg report today, the popular payment company said it will be using Ethereum Layer-2 scaling platform Polygon to enable Twitter content creators to receive payments in USD Coin (USDC). 

Why Polygon

Stripe noted that it chose Polygon because of the network’s capability to complete transactions quickly and at a relatively low cost. 

Aside from Polygon’s transaction capabilities, Stripe noted that it shares similar environmental goals with the Ethereum L2 network, which is focused on eliminating the global carbon footprint. 

As part of efforts to eliminate the global carbon footprint, Stripe established a new fund this year, which will be used to support the development of carbon dioxide removal technologies. 

“Creators on Twitter will be able to receive payments initially in the stablecoin USD Coin. The payouts across the Stripe Connect platform will be made using Polygon.

Adding Polygon support and USD Coin payments also represents new ground for Twitter, which introduced Bitcoin tipping last year. Creators will be able to earn USD Coin through monetized features on Twitter such as Ticketed Spaces and Super Follows,” the report added. 

The payment company said it will be adding support for other digital currencies by the end of 2022, which will foster cryptocurrency payments across 120 countries. 

Meanwhile, Polygon is currently one of the most adopted networks in the world, which stems from its low cost and fast transactions. 

Earlier this month, TheCryptoBasic reported that PayBolt made its debut on Polygon in a bid to enable online merchants to accept Polygon-based cryptocurrencies.