Twitter Inc TWTR is reportedly working on a cryptocurrency wallet that supports crypto deposits and withdrawals, according to Security Researcher Jane Wong.
The social media platform recently launched a feature called "Tips," which enables users to link a third-party payment service and post their Bitcoin BTC/USD or Ethereum ETH/USD wallets to their accounts, allowing followers and supporters to tip in those cryptos.
Incorporating a native cryptocurrency wallet into the platform would dispose of the need for a third-party service, and move the social media site closer to Elon Musk's concept of "X, the everything app," which ostensibly aims to compete with China's WeChat.
Billy Markus, the co-founder of Dogecoin DOGE/USD, and Musk — who is currently closing the deal to purchase Twitter — have long been supporters of the memecoin. Musk recently proposed introducing the option for users to pay for Twitter's premium service, Twitter Blue, using Dogecoin.
Earlier in the year, Markus sent a tweet saying that Dogecoin needed more utility — “using doge as a tipping currency,” was a point he mentioned.
things that add utility to #dogecoin:
1) businesses accepting doge
– the more it can be used as a currency, the better
2) using doge as a tipping currency
– the most pure use case that brings happiness
3) dogecoin / ethereum bridge
– allows doge to be used with web3
It's possible that if Twitter introduces a crypto wallet, Dogecoin would be the default currency for it because Musk, who already accepts Dogecoin for some Tesla products, reacted to the tweet by adding, "[that would be] nice to have."
Did you know Elon Musk sold shares of Tesla to help finance the Twitter deal? Check out Musk's Insider Trading Page.
Click here to be part of the Future of Crypto presented by Benzinga, Dec. 7 in New York City.
Photo: ThomasAFink via Shutterstock
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Visit Benzinga’s Crypto Homepage – 1,000,000+ depend on Benzinga Crypto every month
