Twitter to integrate crypto payments with the stablecoin USDC

A pilot project was launched by the payment processing company Stripe

23.04.2022 - 07:30

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What’s new? Stripe, a payment processing company, is testing a new pilot program to enable payments using cryptocurrencies on Twitter. According to a company blog post, Stripe is considering expanding the reach of its international payments program to include digital assets. Payments will be made through the Stripe Connect platform.

Information on the Stripe blog

What is included in the testing program? Initially, the pilot program will only support stablecoin USD Coin (USDC) and will use Polygon’s Layer 2 solution for payment processing. The Stripe representatives note that they plan to support more virtual assets and processing networks over time.

What is known about Stripe? It is an American technology company headquartered in San Francisco. It was founded in September 2011. The company develops solutions for accepting and processing electronic payments and provides technical and banking infrastructure for online transfer systems.

What had happened before? Elon Musk offered to buy the social network for $43 billion, at $54,20 per share. In early April, it became known that the head of Tesla and SpaceX acquired a 9,2% stake in Twitter worth $2,89 billion. Also on April 10, Musk proposed integrating payments in Dogecoin into the social network to pay for a Twitter Blue subscription.

In September 2021, Twitter launched bitcoin tips feature for platform creators via the Lightning Network. At launch, the feature only supported the Strike wallet. The social network’s representatives reported that other custodial and non-custodial wallets, Blue Wallet, Muun, Breez, and Zap, will become available later.

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