Twitter to Integrate Cryptocurrency Wallet as Musk Looks to Expand Revenue Generation

Social media giant Twitter is reportedly working on a cryptocurrency wallet that could support crypto deposits and withdrawals.

Reports reveal that the project is already under development as the team on it is already working on a prototype.

According to blogger and software engineer, Jane Manchun Wong, who disclosed the news on Twitter, the crypto wallet will enable users to deposit and withdraw their funds without them having to rely on third-party services. Although, the company has not made an official announcement about this.

However, this is not the first time Twitter is delving into the crypto space. In September 2021, the social media platform permitted users to add their Bitcoin wallet address to their profile before it expanded in 2022 by also including an Ethereum address making it easy for people to make crypto payments.

In January 2022, the platform further deepened its crypto offering by introducing a new feature that allowed users to show off their NFTs, or non-fungible tokens. The company rolled out NFT Profile Pictures to its Blue subscribers on iOS by way of Twitter Blue’s early access Labs feature.

For its blue subscribers to access this feature, all they needed to do was simply go to their profile to change their profile photo where they were presented with a new option to choose an NFT, which they later get to connect with their crypto wallet.

With Elon Musk’s decision to purchase the platform, a billionaire who over the years has backed the evolution of cryptocurrency through his support for Dogecoin, a joke coin that metamorphous into a real project, few experts are now predicting that the Tesla CEO will likely incorporate into Twitter the option of making purchases and other payments in digital currencies like bitcoin, Ripple’s XRP, and Solana.

The Tesla boss has previously suggested that Twitter Blue subscriptions could be paid in his favorite meme coin, Dogecoin.