### Twitter has begun the process of acquiring licenses from regulatory bodies in the United States and cryptocurrencies will probably be incorporated in the future as part of Twitter's efforts to help turn the firm around.

In late 2021, when Jack Dorsey was CEO of Twitter, the company was  investigating an entry into the payments business, and had begun applying for regulatory licenses in the United States.  


After Elon Musk’s acquisition of Twitter October 2022, the company showed hints of financial difficulties. It has since been finding ways to cut company costs in the midst of a recession and economic uncertainty. The new Twitter CEO is working on implementing a plan to enable users to make payments on the application as part of his strategy to bring in additional revenue by applying for regulatory licenses to enter the US payments business. Musk further stated that he wants the payment platform to use fiat first, and then cryptocurrencies would be added later.

According to an audio clip recorded by Documenting Bitcoin (@DocumentingBTC), Musk recently explained that "there's a role for crypto in the future. It’s a no-brainer for Twitter to have payments in both fiat and crypto."



 <blockquote className="twitter-tweet"><p lang="en" dir="ltr">₿𝗥𝗘𝗔𝗞𝗜𝗡𝗚: Twitter has officially started the regulatory process to add payment features in the United States! <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@Elonmusk</a> recently explained, "There's a role for crypto in the future. It’s a no-brainer for Twitter to have payments in both fiat and crypto" <a href="https://t.co/f71EZFa1LP">pic.twitter.com/f71EZFa1LP</a></p>— Documenting ₿itcoin 📄 (@DocumentingBTC) <a href="https://twitter.com/DocumentingBTC/status/1620124058326269952?ref_src=twsrc%5Etfw">January 30, 2023</a></blockquote>


Musk has previously stated that he wants Twitter to eventually become an "everything app" for its users. This would enable the platform to offer a range of financial services, including the capacity to manage savings accounts, carry out peer-to-peer transactions, and even issue debit cards.

It is yet uncertain how these attempts will turn out and whether Twitter will be able to introduce any brand-new payment-related services soon. Twitter's intentions may have been affected by a number of factors, including changes in the regulatory environment, competition, and market conditions and entering the highly regulated payments industry can be difficult. Only time will tell whether Twitter's adoption of fiat and cryptocurrency payments will have a positive impact on its users.

Twitter has begun the process of acquiring licenses from regulatory bodies in the United States and cryptocurrencies will probably be incorporated in the future as part of Twitter's efforts to help the firm turn around.

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