Expanding global payouts with crypto

A few initial thoughts:<p>- This is a win for the polygon network and USDC adoption<p>- Twitter payouts is a small (in value) but high profile place to start<p>- I can see this being great for use cases where your bank might restrict withdrawals based on the activities that resulted in the payout<p>- Stripe should build a crypto off-ramp. It would be a short-term distraction for them but long-term could position them to be _the_ business bank

What will be interesting to see is when&#x2F;if they roll this back. Historically significant announcements like this from large corps are more of a PR play than anything else.<p>Even Elon&#x2F;Tesla backed away from crypto less than three months after announcement. They&#x27;ve been (allegedly) looking at it again for almost a year now but given no additional announcement of progress that announcement was quite possibly just another PR move.

This is pretty cool, having the option to get paid out in USDC will create opportunity for many to hold the payout in USD without the cost of exchanging back and forth, provided that USDC is adequately backed and managed, and there are no critical security vulnerabilities.

As a Russian oligarch, I&#x27;m very happy that Stripe is expanding my access to USDC when previously, I would have been prohibited from holding US Dollars, or selling the ones I have! Unfortunately, I&#x27;ll have to send it through Twitter for some reason, but this is a win for free markets worldwide.

I live in a country that’s unsupported by Stripe and most other global merchant processors.<p>I’d love to be able to use Stripe for web credit card payments if I could. Hopefully this is a step towards that.

Unsurprising and totally expected. [0][1]<p>But yet again, we&#x27;ll see the same old screaming and shouting &#x27;scam&#x27; comments everywhere even when Stripe isn&#x27;t the one scamming and only was waiting for regulations before entering back in.<p>It&#x27;s also interesting to see no praise or any critical critique yet on this announcement here with what Stripe is offering and where the exact so-called scam is.<p>Perhaps the typical screaming and shouting <i>&#x27;scam&#x27;</i> comments will only happen in the next crypto &#x2F; DeFi hack &#x2F; scam post on HN, but not when Stripe releases something in its product offering about crypto.<p>Maybe when they say <i>&#x27;crypto has no use case&#x27;</i> they cannot deny Stripe&#x27;s involvement and them using it which also explains that it ruins the skeptics &#x27;crypto scam&#x27; narrative and why they hesitate to immediately scream and comment here.<p>Either way, we&#x27;ll see but in the meantime USDC looks like a sensible choice for crypto payouts.<p>[0] <a href="https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=31070288" rel="nofollow">https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=31070288</a><p>[1] <a href="https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=30629116" rel="nofollow">https:&#x2F;&#x2F;news.ycombinator.com&#x2F;item?id=30629116</a>

What problem does this solve for users in major markets?<p>It&#x27;s clear there&#x27;s some form of benefit for users beyond major markets (though those users still need to go through Stripe&#x27;s KYC process), but for those in major markets, what benefits are there to receive earnings in crypto?

Interesting. Twitter probably has no inflow of USDC, right? So it will have to buy it for dollars. Which will create demand for USDC.<p>And Polygon is probably a second layer solution based on Ethereum, so indirectly, this will create demand for ETH?

Does anyone else associate &quot;crypto&quot; with &quot;scam&quot; these days? How is this good for them or their brand?<p>I used to think Stripe&#x27;s team cared about technical excellence and generally had good ideas.<p>With their first announcement into this space and now this I&#x27;m less inclined to think so and will avoid their business as much as I can.