The platform is one of the first to offer this option, Bloomberg reports. Coinbase’s new payroll product gives artists the ability to choose how much of their royalties will be paid to them in cryptocurrency, as well as which coin they want to use.

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In an interview with CBNC’s Squawk Box, Stoute also spoke about the decision to offer payment to artists in cryptocurrency. “Payment optionality has been a big thing in this creator economy, and now artists are being paid in crypto.”

Independent musicians will also have access to Coinbase’s full set of product offerings, with includes spending, earning, trading, and borrowing, according to Music Business Worldwide.

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After launching a new subscription plan in July 2020 called Select, which allows artists to keep 100% of their earnings from digital platforms, UnitedMasters received a $50 million investment from Apple. UnitedMasters expands its reach every year, and this latest partnership with Coinbase will the company to maintain its position as a power player in the music industry.