Elon Musk’s Twitter is preparing to add payments functionality that could include cryptocurrency, inside sources told the Financial Times.
- Twitter is gearing up for payments and Bitcoin could be in the mix.
- According to a Financial Times report, Elon is open to adding BTC and cryptocurrencies to his vision of Twitter payments.
- While the “super app” vision would prioritize fiat currency, its future will likely include the alternative payment method.
Elon Musks’ Twitter has reportedly started applying for regulatory licenses in the US in apparent preparation to start facilitating payments through the app.
People close to the company stated that Twitter “has begun to map out the necessary architecture to facilitate payments on the platform with a small team,” which could include functionality for cryptocurrency payments, the Financial Times reported. reported.
According to the FT source, Musk has stated that he wants Twitter to serve fiat payments first, but have the ability to enable cryptocurrency later. This wouldn’t be the first time Elon Musks’ businesses have facilitated bitcoin transactions. musk has previously accepted bitcoin for its Tesla electric vehicles, but later retracted capacity due to concerns about renewable energy.
While there are no firm plans to implement this interoperability, Musk has been adamant since taking over the social media company that he wants it to become more of a mainstream “super app.” This multifunctional approach would greatly benefit from the increased functionality of cheap and instant payments using a platform like the Bitcoin Lightning Network.
Twitter previously tested “tipping” via the Bitcoin Lightning Network via Jack Mallers’ Strike, and later added the ability for users to add a Bitcoin address to directly receive their tips.
