Payments provider Stripe has partnered with Twitter in a renewed crypto push.
Stripe will allow a select group of creators on the social-media platform to get crypto payments via the Stripe Connect platform.
The move marks a renewed attempt at getting into the crypto sector after its rivals, Jack Dorsey’s Block, PayPal and Checkout.com have all made moves.
In 2018, Stripe suspended its support for Bitcoin payments, however started recruiting crypto talent last year.
The new tie up with Twitter will allow users to be able to receive payments initially in the stablecoin USD Coin.
All payouts across the Stripe Connect platform will be made using Polygon, a blockchain network designed to make Ethereum faster and easier to use.
Stripe said it chose Polygon because of its speed and low transaction fees. Polyon also wants to eliminate its carbon footprint this year amid ongoing external criticism over the energy practises of the space.
The payment firm set up a its own fund this month dedicated to supporting carbon dioxide removal technologies.
According to Bloomberg, Stripe had plans to add support for other cryptocurrency beyond USD Coin and hopes to give access to crypto payments in more than 120 countries by the end of 2022.
The company raised $600 million last year in a fundraising round that valued the firm at $95 billion. It processed $640 billion in payments in 2021, a 60% increase year-on-year, making it one of the world’s most valuable startups.
