X Ponders Stablecoin Payments for Influencers and Creators
Social media platform X is exploring the use of stablecoins to pay influencers and creators. According to a report by CoinDesk, citing a source who works with other social media companies testing stablecoin payments, X is considering this option for its influencer compensation program.
The report notes that stablecoins have become a staple in blockchain payments, allowing for quicker and lower-cost cross-border payments for businesses of all sizes. This isn't the first time an Elon Musk-owned company has delved into stablecoin payments - SpaceX uses stablecoins to collect cross-border payments from customers of Starlink.
X has been changing its approach to compensating creators, shelving its revenue-sharing system and replacing it with a new program called Original Content Rewards Program. This system aims to reward creators who bring original ideas and expertise to X.