Elon Musk is considering cryptopayments for Twitter
Elon Musk, a longtime supporter of dogecoin, is pushing Twitter to create a payment system that could potentially include crypto functionality. Notably, Dogecoin jumped more than 8% after the announcement, outperforming other major cryptocurrencies.
According to the Financial Times, Twitter has applied for regulatory licenses and plans to develop software that can be used to make payments. Initially, the social network wants to use fiat currencies, but the introduction of cryptocurrency payments is also possible in the future.
Dogecoin supporters hope Musk can provide more options for using the meme token after Musk's SpaceX began accepting the cryptocurrency for certain goods in June.