Stripe, the financial technology company allows Twitter users to get paid in stablecoins

Stripe, the financial technology company allows Twitter users to get paid in stablecoins

Starting with Twitter, Stripe will enable companies to pay their customers using cryptocurrency in the latest example of the growing acceptance of digital assets by significant financial institutions throughout the world. The stablecoin USDC, which is minted


by crypto startup Circle, will be accepted by the $95 billion online payments giant starting Friday. To keep their value constant, stablecoins are digital tokens tethered to fiat currencies. In USDC's instance, the cryptocurrency is backed by the U.S. dollar,


as the name indicates. This payment mechanism will be implemented by Twitter initially.

After a lot of speculation about a possible acquisition by Tesla CEO Elon Musk, the social media platform will begin distributing some of the money it makes from its premium Ticketed Spaces and Super Follows services to a select group of artists on Friday.


After discontinuing bitcoin support four years ago, this is Stripe's first major foray into the crypto world since then. 

With bitcoin's reputation for wild price fluctuations and inefficiency in day-to-day transactions, this San Francisco start-up no longer accepts payments in bitcoin as of January 2018. When it comes to crypto, the company has subsequently warmed to it because


of


a new technology called "Web3", which advocates for a