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Twitter Coin Project Moves One Step Closer to Realization Even as the X Rebranding Goes on an Overdrive

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Twitter X Elon Musk Twitter Coin

Elon Musk has taken the ultimate step of stamping his own mark on Twitter, with the social media giant now rebranded to the elegantly simple “X” moniker. Meanwhile, there are tangible signs that X’s footprint in the payments sphere is about to increase, with wide-ranging ramifications for the company’s just-launched revenue-sharing program as well as the much-anticipated Twitter Coin unveil.

As we covered in an earlier post, Elon Musk formally replaced Twitter’s bird logo with the X symbol over the weekend.

In an online talk, Elon Musk declared that the Twitter logo would be removed from the company’s HQ using “blow torches.”

Meanwhile, Twitter Payments LLC has obtained Money Transmitter licenses in several US states. These licenses allow their holders the ability to process payment instruments such as checks.

Last week, Twitter formally launched its ad revenue-sharing program for creators. The program will allow creators the ability to monetize their profile views.

In order to be eligible, X requires 15 million aggregate profile impressions over the last three months as well as an existing verified status or a subscription to the Twitter Blue service.

Against this backdrop, Twitter Payments’ Money Transmitter license is expected to bolster the social media giant’s ability to ramp up its revenue-sharing program as well as allow for other monetization avenues for creators further down the road.

Yet, there is more. A Money Transmitter license might just be the first step in allowing X to convert fiat currencies into digital ones, such as Bitcoin or Dogecoin. Consider the fact that crypto payment processors such as Coinbase have also secured such a license in several US states, as can be perused by clicking on this link.

Bear in mind that X has long been rumored to be working on a so-called Twitter Coin, with even the web interface for the project leaked online in January 2023. As such, Twitter Payments’ Money Transmitter licenses might be another step toward realizing this secretive program.

Written by Rohail Saleem

WccftechContinue reading/original-link]

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