Social media giant bets big on crypto
Social media platform Twitter has created its own cryptocurrency team in order to be part of the decentralized internet, according to a Wednesday report by The Financial Times.
The newly formed team will be led by seasoned blockchain engineer Tess Rinearson.
Twitter launched a Bitcoin tipping service for iOS users in September and later started testing it on Android devices.
The company is also working on a feature that will allow users to show off their non-fungible (NFT) tokens.
Twitter will start exploring decentralized applications and the broader Web3 ecosystem.
According to Rinearson, the company also aims to “push the boundaries” with its crypto-related initiatives:
Looking farther ahead, we’ll be exploring how ideas from crypto communities can help us push the boundaries of what’s possible with identity, community, ownership and more.
Digital Currency Group CEO Barry Silbert described the development as A big deal.”
Twitter CEO Jack Dorsey is known as a staunch Bitcoin advocate.
