Online publishing service, Substack, is partnering with bitcoin payment processor, OpenNode, to pilot bitcoin payments on its platform.
The platform, where publishers have amassed over 500,000 paying subscribers, has integrated OpenNode’s Bitcoin API which will power both on-chain and Lightning Network bitcoin payments.
Substack will start by making instant, low-cost payments available to a select group of crypto-focused publications.
Readers will be able to use Bitcoin to pay for subscriptions to these select publications, and the publications will retain earnings in bitcoin.
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SEE ALSO: Bitcoin Hits $50K For First Time Since May 2021 As Market Maintains Recovery Track
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As a service, OpenNode provides secure, reliable payment acceptance and payout solutions for businesses using bitcoin and its leading scaling solution, the Lightning network.
Its products include:
- Payment buttons
- Hosted Checkout
- e-Commerce plugins
- Optimized APIs
Substack has indicated that the feature will become available to all publishers depending on the pilot’s success.
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About SubStack
Substack is the home for great writing. Writers on Substack are independent publishers who own their work and their relationship with their audience. With over 500,000 paying subscribers, Substack’s community of readers can subscribe directly to writers they trust and value, and support them directly through paid subscriptions. Founded in 2017, Substack is backed by Andreessen Horowitz, Y Combinator, Fifty Years, and other leading investors.
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RECOMMENDED READING: The Lightning Network, Bitcoin’s Scaling Solution, Grows by 78% in Less Than 2 Months
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