Social media platform Twitter has created its own cryptocurrency team to be part of the decentralized internet, according to a report by The Financial Times on Wednesday.
The newly formed team will be led by veteran blockchain engineer Tess Rinearson.
Twitter launched a Bitcoin “tip” service for iOS users in September and later started testing it on Android devices. The company is also working on a feature that will allow users to display their non-changeable tokens (NFTs).
The social media platform will now begin to explore decentralized applications and the wider Web3 ecosystem. According to Rinearson, the company also aims to “push the limits” with its crypto-related initiatives:
“Looking further, we will explore how ideas from crypto communities can help us push the boundaries of what is possible with identity, community, ownership and more.”
Barry Silbert, CEO of Digital Currency Group, described the development as a “major event”. Twitter CEO Jack Dorsey is a long-time Bitcoin supporter. Therefore, it can be said that this move from Twitter is not so surprising.