- Twitter is reportedly applying for regulatory licenses in the U.S. to facilitate payments
- Elon Musk has stated that he wants Twitter to prioritize fiat, but also be open to cryptocurrency payment methods
- Twitter previously tested Bitcoin tipping and adding a Bitcoin address for direct tips
Twitter Preps For Payments
Twitter is reportedly preparing to begin facilitating payments within its platform by applying for necessary regulatory licenses across the U.S. According to people close to the company, it has started mapping out the architecture needed for this feature with a small team.
Fiat vs Crypto Payment Methods
Elon Musk has stated that he wants Twitter to prioritize fiat currencies as payment methods first, but keep open the possibility of using cryptocurrency later on. This would not be the first time that one of Musk’s businesses have facilitated bitcoin transactions as Tesla previously accepted bitcoin for purchasing electric vehicles before retracting due to energy concerns.
“Super App” Vision
Musk has firmly reiterated since taking over of Twitter that he wants it become more of a generalized “super app” with multifunctionality abilities which could benefit greatly from cheap and instantaneous payments through platforms like Bitcoin Lightning Network.
“Tipping” Through Lightning Network
In order to test these features, Twitter previously enabled “tipping” through Jack Mallers’ Strike which also allowed users to add their own Bitcoin address in order directly receive tips.
“Bitcoin Might Be In The Mix”
While there are no firm plans yet on whether or not Twitter will implement cryptocurrency into its payment vision, Elon Musks’ openness towards crypto indicates that BTC might very well be part of the mix at some point down the line.