According to Security Researcher Jane Wong, Twitter is allegedly developing a cryptocurrency wallet that permits deposits and withdrawals.
The social media platform just released a feature called “Tips” that allows users to link a third-party payment service and publish their Bitcoin or Ethereum wallets to their accounts, enabling supporters and followers to tip in those cryptocurrencies.
Eliminating the need for a third-party service and bringing the social media site closer to Elon Musk’s vision of “X, the everything app,” which ostensibly aims to compete with China’s WeChat, would be accomplished by integrating a native cryptocurrency wallet into the platform.
Musk, who is currently finalizing a deal to buy Twitter, and Billy Markus, the co-founder of Dogecoin, have long been advocates for the memecoin. Musk recently suggested making it possible for users to use Dogecoin to pay for Twitter Blue, the premium service.
Dogecoin needs more uses, according to Markus, who noted in a tweet earlier this year that “using doge as a tipping currency” was one of them.
Because Musk responded to the tweet with “[that would be] nice to have,” it’s possible that Dogecoin will be the default currency for it if Twitter launches a cryptocurrency wallet. Musk already accepts Dogecoin for some Tesla products.