- Twitter is reportedly in the process of getting regulatory licenses to facilitate payments through its platform.
- Elon Musk has expressed interest in adding cryptocurrency, like Bitcoin, as a payment option for Twitter’s “super app” concept.
- The company previously tested “tipping” with Bitcoin Lightning Network and allowed users to add their Bitcoin address for direct tips.
Twitter Prepping For Payments
According to a Financial Times report, Twitter is applying for regulatory licenses across the U.S. in preparation to begin facilitating payments through the app. People close to the company stated that Twitter “has started to map out the architecture needed to facilitate payments on the platform with a small team” which could potentially include functionality for cryptocurrency payments.
Elon Musk Open To Adding BTC & Crypto
Elon Musk has expressed his interest in adding cryptocurrency and bitcoin as part of Twitter’s payment vision, however he wants fiat payments prioritized first. This isn’t surprising considering his previous acceptance of bitcoin for Tesla electric vehicles only later retracted due to environmental 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 approach which would benefit greatly from the increased functionality of cheap and instantaneous payments using platforms like bitcoin lightning network.
“Tipping” Tested With Bitcoin Lightning Network
In order to test this idea, Twitter previously implemented “tipping” via Jack Mallers’ Strike with ability added later on allowing users to add their own Bitcoin address directly receive their tips.