Elon Musk wants to implement crypto payments on Twitter. The Dogecoin rate went up
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Elon Musk said that the Twitter payment system being developed will be fiat, but built in such a way as to add cryptocurrencies later. Financial Times writes about it with reference to sources.
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What is known
Journalists reported that the social network acquired by the billionaire last year is developing a built-in payment system and has started applying for the necessary licenses in the United States. The billionaire has previously called digital payments a critically important area and part of a strategy to further attract users to Twitter.
At the end of 2021, the social network added the possibility of sending donations in bitcoins using the Lighting Network. And in February 2022, the platform began to support Ethereum addresses for its mobile service for sending donations.
Read also: Twitter is working on launching its own cryptocurrency
Last November, the Twitter company registered with the US Treasury Department as a payment operator, now it is making several necessary permits and hopes to complete the licensing process within a year, the publication’s sources said. After that, the company intends to obtain permits from the regulatory bodies of other countries.
Dogecoin is growing
The price of Dogecoin (DOGE), the cryptocurrency supported by Mask, reacted with growth to the statement of the head of Twitter. Despite the general decline in prices on the crypto market, over the past day the value of DOGE has risen by 6.2% — from $0.088 to $0.0.94. The coin’s market capitalization exceeded $12.9 billion.
Current cryptocurrency rates can be viewed here Author: 
News feed editor Anna Nedogybchenko. She writes on the following topics: Finance, banks, economy, investments
Source: Ministry of Finance
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