• Twitter has reportedly begun applying for payment licenses in the U.S.
• Elon Musk is open to the idea of adding Bitcoin and cryptocurrency to its payment system
• The “super app” vision of Twitter will prioritize fiat but could include alternative payment methods such as cryptocurrency
Twitter Preparing for Payments
Twitter has reportedly started applying for regulatory licenses across the U.S., indicating that it is preparing to begin facilitating payments through its platform. This “super app” would prioritize Fiat payments, but could potentially include cryptocurrency as an alternative payment method.
Musk Open to Adding Crypto
According to a Financial Times report, Elon Musk is open to the idea of adding Bitcoin and other cryptocurrency options into Twitter’s payments vision. People close to the company have stated that they are mapping out the architecture needed to facilitate payments on the platform with a small team, which could include functionality for crypto payments.
Tesla Also Accepted BTC
This would not be the first time that one of Elon Musk’s businesses has accepted bitcoin transactions — Tesla previously accepted bitcoin for electric vehicles before retracting due to concerns about renewable energy usage. It is unclear if there are any firm plans yet for interoperability between Twitter and cryptocurrencies, but Musk has expressed his desire for turning Twitter into a generalized “super app”.
Strike Tested Lightning Network Tipping
Twitter had previously tested tipping via Jack Mallers’ Strike on its platform using Bitcoin’s Lightning Network protocol before enabling users directly add their bitcoin address in order receive tips directly.
Conclusion
It appears as though Twitter may soon begin supporting crypto payments as part of its “super app” vision, although there are no concrete plans yet. However, with Elon Musk’s previous experience in accepting Bitcoin transactions with Tesla, it seems likely that he will continue exploring ways to integrate cryptocurrency into his businesses in the future.