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- Twitter is preparing payments, and bitcoin may be in the mix.
- According to a Financial Times report, Elon is open to adding BTC and crypto to its Twitter payments vision.
- While the “super app” vision will prioritize fiat, its future will likely include alternative payment methods.
Elon Musks Twitter has reportedly started applying for regulatory licenses across the US in clear preparation to start facilitating payments through the app.
People close to the company stated that Twitter “has begun to map out the architecture needed to facilitate payments on the platform with small teams,” which could potentially include functionality for cryptocurrency payments, the Financial Times reported.
According to FT sources, Musk has stated that he wants Twitter to serve fiat payments first, but built with the ability to enable cryptocurrency later. This is not the first time Elon Musks business has facilitated bitcoin transactions. Musk had previously accepted bitcoin for his Tesla electric vehicle, but later withdrew the capability due to concerns about renewable energy.
While there are no firm plans to implement this interoperability, Musk has reiterated since he took charge of the social media company that he wants to see it become a generalized “super app.” This multifunctional approach will greatly benefit from increased cheap and instant payment functionality using platforms such as the Bitcoin Lightning Network.
Twitter previously tested “tipping” via the Bitcoin Lightning Network via Jack Mallers’ Strike, then added the ability for users to add a Bitcoin address to instantly receive their tips.
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