Musk Intends to develop a Twitter payment system with crypto functions

At the end of January, it became known that the social network Twitter, headed by Elon Musk, applied for licenses related to the development of software for the implementation of its own payment system. 

Elon Musk himself noted that he wants the social network to offer fintech services, such as peer-to-peer transactions, savings accounts and debit cards. In other words, the entrepreneur intends to make Twitter a «universal application» that includes messaging, payments and commerce.

Musk also intends to organize the platform's payment system so that crypto functions can be added to it in the future. However, it is not yet clear whether these payments will be related to blockchain technology or cryptocurrency.

It is worth noting that at the beginning of December last year, images of «Twitter coins» appeared in the crypto community – a digital asset that is still in development, which will be used for payments and tips on the platform. And a little earlier in October, there were also rumors that Twitter is working on a prototype wallet that will support the input and output of cryptocurrencies.

However, there is currently no confirmation of this, and it seems that in the near future the payment system will support only fiat currencies.