a16z-backed content platform Substack begins accepting bitcoin payments

Substack, an online content platform through which writers can make money from subscriptions, has integrated bitcoin as a payment option.

The option is currently available only "to a select group of crypto-focused publications," a Substack spokesperson told The Block, adding: "We're looking forward to exploring broader availability depending on feedback and demand."

The crypto-focused publications with the bitcoin acceptance option include those from Willy Woo and Dan Held, an OpenNode spokesperson told The Block. Substack has partnered with OpenNode, a bitcoin payments processor, for the initiative.

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"We're excited to introduce this option, even at a small scale to start," the Substack spokesperson said. "Bitcoin payments are fast, convenient, and secure, with low fees. We use the Lightning Network for transactions, [which are] even faster than credit cards."

Substack will accept bitcoin both on-chain and via the Lightning Network, which is designed to make small amounts of bitcoin payments cheaper and faster.

Founded in 2017, Substack is backed by notable investors, including Andreessen Horowitz (a16z), Y Combinator, Fifty Years, and others. The platform has raised over $80 million in funding to date, according to Crunchbase. It claims to have more than 500,000 paying subscribers.

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Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.