Stripe To Allow USDC Stablecoin Payments — Including To Twitter Content Creators — On The Polygon Blockchain

Payment processing giant Stripe has introduced USD Coin (CRYPTO: USDC) — the stablecoin launched by fintech Circle in partnership with Coinbase Global Inc (NASDAQ: COIN) — as a payment method for its users.

Stripe is not the first payment processor to adopt USD Coin: payment behemoth Visa Inc. (NYSE: V) reported it became the first major payments network to settle transactions with this token in March 2021.

What Happened: Stripe’s customers will now be able to pay sellers, freelancers, content creators and service providers in USD Coin tokens through the Ethereum (CRYPTO: ETH) scalability solution Polygon (CRYPTO: MATIC), according to a Friday Coindesk report.

See Also: How To Get Free Crypto

The first company to test the new feature is Twitter Inc (NYSE: TWTR). The social media giant will allow content creators to choose USD Coin as their preferred payment method for getting paid for products such as “Ticketed Spaces” and “Super Follows.” Stripe announced that it will add support for more blockchain protocols and additional tokens over time.

The report follows early March reports that major crypto exchange FTX partnered with Stripe to process payments and overhaul its onboarding, verification, KYC, and more.

Photo: Courtesy Stripe