Binance To Assist Elon Musk With Crypto Payments On Twitter

According to Binance, the company is now investigating blockchain integration on the platform, which might be a precursor to the introduction of crypto payments. Binance announced that it is currently looking at integrating cryptocurrencies on the platform after investing $500 million in the purchase of Twitter. A spokeswoman for the cryptocurrency exchange claimed that Binance is assembling a team to work on cryptocurrency-based Twitter solutions.

Since Musk's proposal to acquire Twitter became known, rumours have circulated regarding the extent to which crypto and Web3 technologies may figure into his plans for the firm.

The Tesla creator attributed the decision to his conviction in the value of a shared digital town square rather than mentioning any cryptocurrency or blockchain concepts in a statement he made last week about the reasons he purchased Twitter.

He has however stated that he is open to using blockchain-based approaches to do so. He proposed charging users a tiny fee to register messages on-chain in leaked emails that were made public last month in an effort to make spamming prohibitively expensive for bots and crooks.