Elon Musk Wants Twitter to Become A Crypto Payments Platform

Listen to Podcast:
 
Elon Musk’s Twitter is reportedly working on becoming a place where people can pay for things. This is the latest example of throwing everything at the wall and seeing what sticks.
 
People who know about the company’s plans told the Financial Times(Opens in a new window) that Elon Musk wants Twitter users to be able to buy things and send money to each other. Even though Musk says he loves cryptocurrencies, the system will be mostly based on fiat payments. However, cryptocurrencies could be added in the future.
 

 

Twitter is already making a way for people to give awards to other creators. But for these new features to work, the company will have to pass a lot of regulatory checks. According to the Financial Times, Twitter is already registered as a payments processor with the U.S. Treasury. The company has also started the process of getting the licenses it needs in the U.S.
 
This will take time. The report says that Twitter hopes to finish licensing in the U.S. within a year. After that, the company will probably try to get the regulatory approvals it needs to grow internationally.
 
Esther Crawford, Twitter’s director of Product Management, is in charge of this new project. She seems to have done well in Elon Musk’s “extremely hardcore” work environment. The Financial Times calls Crawford Musk’s “fast-rising lieutenant.” Shortly after Musk took over Twitter, Crawford posted a picture of herself in a sleeping bag on an office floor. Crawford is now in charge of Twitter Payments. He is in charge of a small team that is working on making a vault to store and protect the user data that the system collects.
Subscribe to Our Latest Newsletter

To Read Our Exclusive Content, Sign up Now.
$5/Monthly, $50/Yearly

RECENT POSTS

Irfan Pathan Predicts Top Batter and Top Bowler of ODI World Cup 2023

The cricketing world is humming with anticipation as the...

9 New Features of iPhone 15 That Are First-Ever in Smartphones

Some of the most significant changes to the iPhone...

Nobel Prize 2023 in Physics Awarded for Breakthrough in Atomic Imaging

The 2023 Nobel Prize in Physics was awarded to...

Google Pixel Buds Pro Review: Features, Pricing, and Comparison [Detail Guide]

Are you interested in the latest, most advanced wireless...

Top 200 Alternatives to TioAnime for Watching Free Animes in 2023

Welcome to the world of Tioanime, where you can...

ASTROLOGY

LIFESTYLE

BUSINESS

TECHNOLOGY

HEALTH

FEATURED STORIES