Substack was launched in 2017 and has grown to have over 500,000 paying subscribers. The integration of OpenNode API will allow Substack to accept BTC onchain and via Lightning Network payments.
Speaking on the development, Nick Inzucchi, Substack Product Designer said; “We’re excited to be working with OpenNode to enable independent publishers on Substack to accept crypto payments.”
“Having this option will give writers more flexibility and freedom, and we look forward to doing more in crypto to meet writers’ needs.”, he added.
Bitcoin Payment Available for Select Substack Publishers
According to the publication by OpenNode, the API integration will only for available for a select group of crypto-focused publications. And readers will be able to use the Bitcoin to pay for subscriptions to these publications.
CTO and Co-Founder at OpenNode, Joao Almeida, speaking on the partnership between OpenNode and Substack said “Our partnership will allow content creators across the Substack ecosystem to accept Bitcoin payments, and retain earnings in Bitcoin or convert to preferred currency.” and that “Writers and Podcasters have flocked to Subtack to regain creative and financial freedom, and Bitcoin is a natural fit”.
OpenNode was founded in 2018 and empowers businesses with a secure, reliable payment acceptance and payout product.
For now, Bitcoin is the only acceptable payments and only available for select crypto publications, in future, Substack may allow more publications accept bitcoin and integrate more cryptocurrencies.
The company said it will continue to invest in features that offer writers more control over their subscriptions and communities.
Today we enabled Bitcoin payments, beginning with select crypto publications.
We will continue to invest in features that offer writers more control over their subscriptions and community.
To read some of the great crypto writing on Substack, visit: https://t.co/e8M8K9VZ2W
— Substack (@SubstackInc) August 23, 2021
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