Stripe launched global crypto payouts. Source: stripe.com
Platforms and marketplaces on Stripe can now instantly pay funds to their sellers, freelancers, content creators, and service providers using cryptocurrency. Initially, payouts will be available using USDC, a stablecoin pegged to the US dollar.
That means that companies like Twitter can offer creators the choice to receive payments in crypto. Twitter will use this feature to pay out earnings from Ticketed Spaces and Super Follows. This option will initially be offered to a small group of Twitter’s US creators.
With Stripe Connect, businesses can programmatically pay out to people in more than 70 countries in their local currency.
Now, platforms can participate in the Web3 economy without having to acquire and store crypto themselves. They can quickly pay out to their users in even more countries, and improve their services for those who prefer crypto over traditional fiat payment methods.
Stripe will initially support payouts in USDC to wallets compatible with the Polygon network. Later this year, Stripe will roll out support for additional cryptocurrencies and blockchain networks. Platforms and their end users can easily monitor and manage payouts, including crypto, in the Stripe Dashboard.
We’ve reported that Klarna introduced UK gambling block for direct bank-to-bank payments.
SEE ALSO:
Pay Space
Our editorial team delivers daily news and insights on the global payment industry, covering fintech innovations, worldwide payment methods, and modern payment options.
