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Just In: Binance To Help Elon Musk With Crypto Payments On Twitter

Exchange

coingape.com 28 October 2022 15:46, UTC
  
Reading time: ~2 m

Binance said it is now exploring blockchain integration on the platform, in a potential sign of introducing crypto payments. After investing $500 million in the Twitter takeover deal, Binance said it is now exploring crypto integration on the platform. A company spokesman of the crypto exchange said Binance is creating a team to work on crypto based solutions for Twitter.

Binance To Integrate Crypto Payments On Twitter Soon?

According to a Reuters report, the crypto exchange is creating a team to work on crypto solutions for Twitter. The team will work on “how blockchain and crypto could be helpful to Twitter,” the report said quoting a Binance spokesperson. It appears that Elon Musk is prioritizing a resolution in the issue of Twitter bot accounts. Binance would be working on Twitter’s issues like proliferation of bot accounts, the report added. However, the next step with the partnership could be to integrate crypto payments on Twitter. The Reuters report stated,

“The newly-formed team will explore how to build on-chain solutions to address Twitter’s issues including proliferation of bot accounts.”

The exchange said it will help Elon Musk in developing strategical plans for Twitter’s growth. The company will brainstorm plans and strategies that could help Twitter’s operations. The development comes at a time when Twitter is going through sea-change after Elon Musk’s takeover. In his thoughts on the objective behind his takeover of Twitter Musk said he wants the platform to reduce discrepancies.

Also, Binance CEO CZ confirmed the company’s participation in the $44 billion Twitter deal as an investor. CZ said his company committed $500 million for the deal to prioritize focus on reducing spam and scams on Twitter.

Binance Expands CBDC Integration

Meanwhile, Binance continues to expand its scope of crypto technology partnership across the world. Recently, the exchange said it working on linking the CBDC project of Kazakhsthan with the BNB chain. The National Bank of Kazakhstan plans to integrate its central bank digital currency, the Digital Tenge with the Binance chain, it was reported earlier this week.


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