The $95 billion online payments company said Friday it will start offering merchants the ability to make payouts in crypto through the stablecoin USDC, which is issued by crypto firm Circle.
Twitter will be the first company to integrate the new payment method.
It’s Stripe’s first significant push into crypto since dropping support for bitcoin four years ago.
But the firm has since warmed to crypto amid hype over “Web3,” a movement in tech that calls for the creation of a decentralized version of the internet based on blockchain technology.
The company’s crypto payouts feature will run on the Polygon network, a so-called “Layer 2” solution that sits on top of the Ethereum network to handle transactions faster and at a lower cost.
Stripe isn’t the only company opening up its platform to digital currencies — in fact, the company is arguably late to the party.
More recently, several major cryptocurrencies have slumped sharply from record highs, with bitcoin, the world’s largest, down more than 40% from a November peak of nearly $69,000.