The Musk Twitter payment system will prepare for a possible crypto integration

The Musk Twitter payment system will prepare for a possible crypto integration

Elon Musk drives his plans to bring payment functions on Twitter and brings a further source of income to the struck social media giant.

Although the technology will primarily be geared towards Fiat, it will be built up in such a way that crypto functionality can be added in the future.

Twitter and payments

as reported As reported on Monday, Esther Crawford-Director of Product Management on Twitter-worked with a small team, the architecture to outline for the provision of payments on the platform. She is now managing director of Twitter Payments LLC.

The company has also applied for government official licenses in the USA to qualify for this task after it had registered as a payment settlement in November. It hopes for a complete US licensing within a year and then expands internationally.

Musk has previously shown interest in providing a number of payment services on Twitter that range from peer-to-peer transactions to debit/credit cards, and creating an "all-app" that facilitates payments, trade and news transmission. It would even enable people to buy products directly via the platform.

He is just teased Add 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 showed last May that Musk planned to rule $ 1.3 billion in payments from Twitter by 2028. This represents another step of Musk to take Twitter more profitable, including placing a verification behind a paywall and thousands of employees from the business.

Before Musk took over, Twitter already examined both tips and e-commerce functions. Lightning-based bitcoin tips were included in these updates, with ether tips

Dogecoin increases again

After the reporting of the Financial Times on this topic, Dogecoin briefly rose to a daily high of $ 0.091 before it went back to $ 0.086 within a few hours.

Dogecoin has reacted to news in connection with Elon Musk in the past, regardless of whether it is a certain MEM or not coin. The digital currency flooded 22 % before Musk's takeover of Twitter when he switched to the Twitter headquarters.

Musk previously recommended due to its larger block size restriction and faster block speed is better than bitcoin when processing transactions. He also regularly interacts with the Meme Coin’s Creator, Billy Markus, on Twitter.

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