Twitter Explores Payments System with Support for Crypto: Report
Main page News, Elon Musk, Twitter, business, Cryptocurrency
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Jan. 31, 2023

Twitter is seeking a regulatory approval for its new engineering architecture that would bring payments for creators on the social media platform, the Financial Times has learned, citing people close to the company.

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As per the report, Twitter has already registered with the US Treasury as a payments processor. Sources say the social media giant is now hunting for the state licenses needed to launch the business. People close to the matter say that Elon Musk wants the company to explore more ways for users to reward creators, including crypto.

As of press time, neither Twitter nor Musk made any official statements on the matter. In is also unclear when the social media platform aims to bring the new feature.

Binance Founder Expects 90% of Musk's Ideas for Twitter to Fail

Elon Musk acquired Twitter in late October 2022 for $44 billion at his original offer price of $54.20 a share. In late December last year, Musk said he would step down as Twitter's CEO once he finds someone "foolish enough to take the job." The statement followed a Twitter poll initiated by the billionaire, which saw 57.5% of users vote "yes" to him quitting the role.

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