Elon Musk May Consider Crypto and Internet Payments Via Twitter: Report
Twitter, now under its new CEO Elon Musk, can quickly expand its services outside the social network. The micro-blogging platform has reportedly filed paperwork for an authorization to act as a payment processor for not only online, but also crypto transactions. Not surprisingly, Musk is showing an inclination to use crypto-related services on Twitter after acquiring it for around $44 billion (roughly Rs. 3,58,912 crore).
Twitter is reported to have filed for permits to operate as a financial services provider with the US Treasury last week. like saying NewsTwitter aims to facilitate the transfer and exchange of funds into crypto assets and vice versa.
For now, the details of Musk’s payment service plans are unclear.
Musk, under his leadership, aims to find new ways to monetize Twitter, which until now has been largely dependent on the advertising model.
Controversially, Musk shortly after taking to Twitter announced that he will issue a green ticket verification badge only to those people who are willing to pay a monthly fee of $8 (roughly Rs. 650) to keep that badge.
Previously, Musk had floated the idea of making Twitter Blue a paid service. Back in April, Musk said that Dogecoin can be used as payment for using Twitter Blue services that offer subscribers to remove ads from their timeline, edit tweets in 20-second intervals, and cancel tweets completely among other premiums. features.
The CEO of Tesla and SpaceX aims to make Twitter an ‘everything app’ that combines communication and financial services within a single app.
Meta, in this arena, is ahead of Twitter. The company already offers instant messaging services with a money transfer option on WhatsApp, which already offers video and voice calling services – among other features that Twitter lacks.