Twitter, a social networking and blogging platform based in the United States, is reportedly collaborating with Stripe, an online payment service provider, to enable shops to accept cryptocurrency payments from their customers.
Although cryptocurrency may be integrated into a Twitter payment system, the payments feature appears to be limited to fiat currencies for the time being.
Twitter Crypto Payment System
According to insiders, Twitter has begun to sketch out the architecture required to manage the payment system on the site, referring Twitter payments to a small group that may eventually include support for cryptocurrency payments.
Twitter has already begun to draw out the infrastructure required to administer the payment system on the site, according to individuals inside the social media giant, referring Twitter payments to a small group that may eventually include support for bitcoin payments.
According to Twitter sources, Elon Musk allegedly advised Twitter’s developers that he preferred cash payments at first and that cryptocurrency functionality may be added later. This would not be the first time Elon Musk’s firms have enabled bitcoin transactions.
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Elon Musk Previously Allow Crypto Payments in Tesla
Musk famously began accepting Bitcoin and Dogecoins at Tesla, making the company the first in the world to accept cryptocurrencies as a valid form of payment.
Tesla also accepts cryptocurrency at its charging stations in the United States and the United Kingdom.
Although there are no clear plans to achieve this interoperability, Musk has often stated since taking over the social media company that he wants it to grow into a single application for all solutions. This multifunctionality technique would profit immensely from improved functionality of low-cost, rapid payments sent using a system such as the Bitcoin Lightning Network.
Twitter’s engagement with Stripe is consistent with Elon Musk’s desire to transform Twitter into X.com or Platform X, the super-platform that would allow consumers to bank, shop, travel, and socialize all within the same app.
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