Twitter Is Set To Build A Crypto Wallet

• • Twitter is working on a crypto wallet that will support deposits and withdrawals.
  • This information was disclosed by blogger Jane Wong.

Twitter is continuing its push to become a Web3 frontrunner. Jane Manchun Wong, a blogger known for disclosing early tech developments, revealed today that Twitter is working on its own crypto wallet. Wong said that the wallet is expected to support withdrawals and deposits, but the initial token support is unclear.

This is not the first time that Twitter has shown interest in cryptocurrency. In 2021, the company launched a cryptocurrency tipping feature, allowed users to integrate web3 dApps, and let users add NFTs as profile pictures. Elon Musk, who is in the process of acquiring Twitter, has also expressed interest in using crypto to limit spam transactions.

Twitter’s crypto wallet could be a major step in the company’s Web3 ambitions. It would allow users to store, send, and receive cryptocurrency directly on Twitter. This could make it easier for users to buy and sell goods and services on the platform, and it could also open up new opportunities for creators to monetize their content.

Twitter’s crypto wallet would also be a major competitor to Meta’s Novi wallet, which was recently shut down. Novi was designed to allow users to send and receive money using the Diem stablecoin. However, the project faced regulatory challenges and failed to gain traction with users.

Twitter’s crypto wallet could be more successful than Novi because it is already integrated with a large and active user base. Twitter has over 300 million monthly active users, and many of them are interested in cryptocurrency. If Twitter can make its crypto wallet easy to use and secure, it could become a popular way for users to store and use cryptocurrency.

It will be interesting to see how Twitter’s crypto wallet develops. The company has a lot of potential to make a major impact on the Web3 space. However, it will need to overcome some challenges, such as security and regulation, in order to be successful.