Twitter is working on launching its own cryptocurrency

Technical researcher Jane Manchun Wong reported that Twitter is working on launching a new crypto feature on the platform. The option will be called Coins.

Twitter is working on Coins purchasing screen

On the web, Twitter Coins purchase will be done through Stripe https://t.co/RFpWswnZfG pic.twitter.com/eAzPWjfoye

— Jane Manchun Wong (@wongmjane) January 10, 2023

The new feature will allow users to be financially rewarded for posting certain tweets. The reward will be an internal Twitter token that can be purchased for fiat. Transactions will be executed through Stripe, an online platform that facilitates payments and other types of financial transactions around the world.

Rumors about the social network’s personal cryptocurrency started spreading in late 2022. Some of them were triggered by Nim Ovji, a user who maintains a leak account on the platform. on December 4, he published a screenshot of the alleged Twitter interface, which shows the «Coins» option for tipping, as well as a vector image of a koin with the company logo.

In turn, Jane Manchun Wong wrote that she had extracted the code from the Twitter web application to confirm the information from Ovji. The same day, the post and Wong’s account were deleted. Along with these events, the platform’s CEO Elon Musk said that he was still interested in integrating cryptocurrencies into the social network. «There is no problem for Twitter to accept payments in both fiat and cryptocurrency,» the billionaire said on Twitter Spaces.

Currently, Twitter supports payment tips in bitcoin (BTC) and Ethereum (ETH), which were integrated in September 2021. The platform is also expected to launch a money transfer function with connected debit cards and bank accounts.

We would like to add that the social network now offers up-to-date information on cryptocurrency rates. Whenever someone tweets a symbol of a stock, exchange-traded fund, or digital asset with a US dollar icon in front of it, users will be able to see an active link that will take them to search results with price charts for the coins in question.