Twitter is reportedly working on a system that would allow users to make payments directly through the social media platform. Billionaire owner Elon Musk is said to be pushing for a fiat currency priority but wants the system to incorporate cryptocurrencies later on.
What Happened: According to a Financial Times report, two people familiar with Twitter's plans have indicated that its forthcoming payments feature will initially support fiat currencies but will also be built to accommodate digital currencies.
BREAKING: Elon Musk’s Twitter Working On Crypto Payments— Vikas Dahinwal (@vikas_dahinwal) January 30, 2023
may be Dogecoin official crypto in Twitter and doge go to the moon soon???@elonmusk @MattWallace888 @DogecoinRise pic.twitter.com/Pa0rO0AnIi
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Why It Matters: Twitter has been teasing the possibility of making payments easier than ever on its platform — part of Elon Musk's plan to turn Twitter into an "everything app."
Just a few weeks ago, rumors surfaced with leaked images of Twitter's very own digital asset: "Twitter Coins."
You think Elon will use $DOGE for Twitter payments? 👀— DogeCoin Ride (@DogecoinRide) January 30, 2023
It should be noted Musk’s Tesla Inc TSLA allows the use of Dogecoin DOGE/USD for buying merchandise via online stores.
Now, DOGE enthusiasts want Twitter to add meme crypto for payment functionality, as Musk is also a well-known proponent of the meme coin.
Price Action: At the time of writing, DOGE was trading at $0.09278, up 4% in the last 24 hours, according to Benzinga Pro.
Read Next: Dogecoin Rises On Musk Effect, Bitcoin, Ethereum Slide
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