Twitter is continuing to develop a new feature that will allow users to give each other “Awards” using “Coins” that can be purchased with fiat currency.

According to security researcher and data miner Jane Manchun Wong, Twitter is currently developing a purchase interface and menu item button for Coins, and will use Stripe to process payments in fiat.

The news suggests that Twitter’s monetization strategy is continuing to develop, despite losing much of its staff just a few months ago following new CEO Elon Musk’s takeover.

Twitter is continuing to develop a new feature that will allow users to give each other “Awards” using “Coins” that can be purchased with fiat currency.

According to security researcher and data miner Jane Manchun Wong, Twitter is currently developing a purchase interface and menu item button for Coins, and will use Stripe to process payments in fiat.

The news suggests that Twitter’s monetization strategy is continuing to develop, despite losing much of its staff just a few months ago following new CEO Elon Musk’s takeover.

Twitter’s Crypto Engineering Lead Resigns as Staff Numbers Dwindle

While it’s unlikely that these Coins will exist on the blockchain, it’s possible crypto could be added as a payment method through Stripe, allowing users to buy Twitter Coins with crypto in the future. Stripe leaned into supporting crypto payments last year, and Twitter tested USDC payouts through Stripe for creators monetizing their content through its social media site last year as well.

For now, it appears that those who receive Twitter Awards will have to wait until they’ve earned at least $50 worth to redeem, which is the same as the minimum payout amount for those monetizing Twitter’s existing “Super Follows” feature.

Could Twitter’s Coins or Awards go crypto in the future? Don’t count on it—for now.

 

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.