Elon Musk’s Twitter is said to be working towards becoming a payments platform in the latest episode.
According to the Financial Times which quotes people who are familiar with Musk’s plans, Twitter users should be able to purchase stuff through Twitter and also send money to one another, according to sources. Musk professes a love for cryptocurrency but the system will initially be based only on fiat payments. Crypto functionality could be added later.
Twitter is working on a system where users can award other creators. However, these new features will require Twitter and other payment processors to undergo a series of regulatory checks. The company has begun to apply for the necessary licenses in America.
Twitter’s font has been changed, and it may be for a good reason.
This will take time. Twitter claims it hopes to finish the U.S. licensing process within one year. After that, the company would likely attempt to obtain the regulatory approvals necessary to expand internationally.