Twitter preps for payments with crypto option as Musk eyes super app, FT says
Quick Take
- The social media platform is applying for licenses and designing the software needed to bring payments to the platform as part of Elon Musk’s drive to turn Twitter into a “super app,” the FT said.
- Payments would focus on fiat currencies “first and foremost” according to the FT, but built to allow crypto capabilities to be added later.
Twitter is working to line up the necessary regulatory approvals needed to integrate payments into the platform, including future crypto capabilities, the Financial Times reported.
The social media platform is applying for licenses and designing the software needed to bring payments to the platform as part of Elon Musk's drive to turn Twitter into a "super app," the FT said, citing people familiar with the company's plans.
Payments would focus on fiat currencies "first and foremost" according to the FT, but built to allow for crypto capabilities to be added later.
Esther Crawford is the executive overseeing the plan along with a small team.
Musk has said since taking over that he wants Twitter to offer such capabilities as he looks to diversify the company's revenue streams.
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