LOGO_CRYPTO_SIGHT

Publishing Platform Substack Added BTC to List Of Viable Payment Measures

By | August 24, 2021

Content platform Substack has successfully added Bitcoin (BTC) to its list of viable payment measures, following a freshly completed integration with payment processor OpenNode. 

Specifically revealed on August 23rd, OpenNode reportedly disclosed details of its new alliance with Substack, to work towards a primary goal of rolling out simplified Bitcoin-enabled payment to writers and publications. 

Per OpenNode and Substack, the integration will reportedly be exclusively released to “a select group of crypto-focused publications” on the platform.

The publishing platform, which offers writers the freedom to send their work to readers in a direct manner, is currently providing services for over 500,000 paid subscribers, with the most popular writers making a 6-figure profit on a yearly basis. 

The select Substack readers will reportedly have the ability to choose Bitcoin, via the Lightning Network, to finalize their payment of the subscription, with particular publications supporting them to keep the crypto earnings also. 

Substack product designer Nick Inzucch subtly revealed that the platform may potentially widen the scope of its crypto payment services to different writers, in an attempt to offer them “more flexibility and freedom.”

A variety of widely known faces throughout the crypto sphere are currently utilizing Substack to assist with their publication, nominally analyst Willy Woo and Kraken growth lead Dan Held.

Established in 2017, Substack reportedly receives the backing of venture capital entities Andreessen Horowitz, Y Combinator, Fifty Years, and others.

Tags: , ,

Comments