LAGOS, Nigeria (VOICE OF NAIJA)- CEO Elon Musk has come up with a system that allows Twitter users to pay using cryptocurrencies on the platform.
Just like with Tesla, this is in line with the theory that says Musk wants to turn Twitter into a super app called X.com or Platform X.
It is said that Twitter now seems to be working with stripe, an online service company to enable shops to accept bitcoin payments from their customers.
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 ultimately include support for cryptocurrency payments.
According to Twitter sources, Elon Musk’s companies have already affirmed bitcoin transactions, which would not be the first time.
Elon Musk has allegedly informed Twitter’s developers that he preferred cash payments at first and that cryptocurrency support may be introduced later,
Musk started accepting Bitcoin and Dogecoins at Tesla, making it the first car manufacturer ever to accept cryptocurrencies as a legitimate form of payment. Tesla also accepts crypto at its charging stations across the US and the UK.
Although there are no concrete plans to implement this capability, Musk has emphasized that he wants to see it expand into a single application for all solutions since he took over the social media.
Stripe’s most recent endeavour also reflects the company’s renewed interest in cryptocurrency.
Stripe stopped accepting cryptocurrency in January 2018, claiming that the token’s illiquidity and inefficiency rendered it unsuitable for ordinary transactions.
However, in Mid-2021, the firm announced its comeback to the cryptocurrency market and began employing in the field. It is suitable for use as a cryptocurrency since USDC is linked to the US dollar and has more market stability than cryptocurrencies such as bitcoin.
Stripe is in line with what some people have theorized about Elon Musk with Twitter’s collaboration, wanting to turn Twitter into X.com or Platform X, the super app that would basically allow people to bank, shop, travel and socialize with the same app.