Crypto expounding their reach when it comes to payouts, helping to improve and my things easy for merchants globally is commendable, a few weeks ago the CEO of strike Jack Mallers during his presentation on stage at the Bitcoin 2022 Miami conference, he made a huge announcement which in my opinion was like him making crypto legal tender in the united states without it being legal tender, here is what I mean the partnership between Strike and Shopify, a global network of merchants world wide, would influence crypto adoption rate globally and make people use more of crypto for payment of services rendered.
And yesterday Stripe an Irish-American financial service provider company partners with Twitter to allow freelancers, sellers, content creators, and service providers get their payment for their services rendered in the polygon native token USDC. which is a stablecoin, in my opinion stablecoin payments are the best way to go, and using other cryptocurrencies for payments could potentially cause losses on both sides, I think.
Twitter payout options for their creators was bank account payment or debit cards and now they have added crypto to the list by partnering with Stripe to pay in USDC. But let's also remember that stripe is a centralized platform so KYC (Know Your Customer) is required. Twitter is bringing new things to its users despite the possibility of takeover by Elon Musk, who offered to buy Twitter for $40 something billion recently, and also threatened to dump his shares, if his offer is not accepted, when he had the largest share amongst Twitter shareholders until vanguard bought in, but it would have been nice to see Elon Musk be the owner of Twitter, but never say never anything can happen.
Twitter is expanding the payout options into crypto which is good news, especially for those wishing to be paid in cryptocurrency. this is stripe's first significant move into the crypto space, since 2018 when it dropped it support for bitcoin because of its volatile price swings, which make it inefficient according to them.
Last year, however, the company had formed a team dedicated to exploring crypto and Web3. While in November, Stripe co-founder John Collison hinted the firm might soon offer crypto support again. Stripe’s Friday blogpost noted.
Twitter crypto payouts feature will essentially run on the Polygon network. Time and again, other top-crypto networks have been criticized for their high fees and payment processing time. This L2 network, however, has been able to retain its “fast” and “cheap” tag, making it one of the go-to options.
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Will this action increase the value of Polygon and the overall popularity of cryptocurrency.
What do you think?
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It should because crypto market is moved by sentiment, and this is a positive sentiment for polygon, so yeah it will.
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Everyone on crypto Twitter butthurt Stripe chose Matic over BTC and ETH... Big news regardless.
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Anyways it's still a win for crypto regardless
with developments such as this , one just wonders how soon the arrival of the era of crypto replacing the traditional fiat system will take place.
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It's already very close bro, just a matter of time.
We can't assume that Elon won't integrate crypto payment into Twitter although it could be Doge or Shib :)
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Yeah you are right on that if Elon was given the chase to own twitter it would have probably been Doge or Shib
Awesome! Stripe wants a piece :')
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Yeah bro, everyone does.