Last novembershortly after taking control of the company, Musk had talked about his plans to launch a payment system through the platform and the possibility of offering other financial services such as debit cards and bank accounts.
The tycoon thus confirmed his intention to turn Twitter into a kind of “app for everything” in the style of China’s WeChat, that offers messaging, payments and shopping, among other things.
In November, Musk said that was considering that subscribers to the Twitter Blue payment service may have the option of sending money to another person on Twitter and to link your bank account with the social network.
The next step, he said, could be offer high interest bank accounts and later debit cards or checks could be incorporated, for example.
Some technologies, such as Apple already offer savings accountsas do companies specialized in digital payments such as PayPal.
This isn’t Musk’s first foray into the financial arena. The Tesla CEO was also the founder of X.com, one of the first digital financial platforms which was later integrated with the giant PayPal.
According to information from the Financial Times, it is expected that initially this payment system works with traditional currencies but that in the future may also include cryptocurrenciesa piece of news that on Tuesday morning caused the price of some of these assets to rise momentarily, such as Dogecoin, a currency closely linked to Musk and that the magnate has been promoting for a long time.
Twitter is going through several financial difficulties that in recent times have crystallized in legal actions taken by the British royal property management fund against the social network company for non-payment of rents in the English capital.
Source: Ambito
