Suche
Mein Konto
Musk's Twitter payment system will prepare for possible crypto integration
Elon Musk is moving forward with his plans to bring payment features to Twitter, bringing another source of revenue to the struggling social media giant. Although the technology will be primarily fiat-focused, it will be built to allow crypto functionality to be added in the future. Twitter and payments As reported As the Financial Times reported on Monday, Esther Crawford – Twitter's director of product management – has been working with a small team to outline the architecture for delivering payments on the platform. She is now managing director of Twitter Payments LLC. The company also has state regulatory licenses in the...
Musk's Twitter payment system will prepare for possible crypto integration
Elon Musk is moving forward with his plans to bring payment features to Twitter, bringing another source of revenue to the struggling social media giant.
Although the technology will be primarily fiat-focused, it will be built to allow crypto functionality to be added in the future.
Twitter and payments
AsreportedAs the Financial Times reported on Monday, Esther Crawford – Twitter's director of product management – has been working with a small team to outline the architecture for delivering payments on the platform. She is now managing director of Twitter Payments LLC.
The company has also applied for state regulatory licenses in the US to qualify for this role after registering as a payment processor with the US Treasury Department in November. It hopes to achieve full U.S. licensing within a year and then expand internationally.
Musk has previously shown interest in providing a range of payment services on Twitter, ranging from peer-to-peer transactions to debit/credit cards, and creating an "everything app" that facilitates payments, commerce and messaging. It would even allow people to purchase products directly through the platform.
He is straightteasedAdding a Dogecoin payment option to Twitter – although no plans of this kind have been confirmed yet.
According to the New York Times, an early pitch deck to investors last May showed that Musk planned to command $1.3 billion in payment revenue from Twitter by 2028. This represents another move by Musk to make Twitter more profitable, including putting verification behind a paywall and cutting thousands of employees from the business.
Before Musk took over, Twitter was already exploring both tipping and e-commerce features. Lightning basedBitcoinTips were included in these updates, withEther Tipsand NFT support will follow soon after.
Dogecoin is rising again
Following the Financial Times' reporting on the matter, Dogecoin briefly rose to an intraday high of $0.091 before falling back to $0.086 within a few hours.
Dogecoin has responded to Elon Musk-related news in the past, whether or not it involves a specific meme coin. The digital currencyflooded22% before Musk took over Twitter when he moved to Twitter headquarters.
Musk has beforerecommendedthat Dogecoin is better than Bitcoin at processing transactions due to its larger block size limit and faster block speed. He also regularly interacts with the meme coin’s creator, Billy Markus, via Twitter.
.