After investing $500 million into Elon Musk’s Twitter takeover, Binance now wants to help Musk run the organization by giving Twitter “a seat at the table.”
Changpeng ‘CZ’ Zhao, CEO of Binance, wants to guarantee that cryptocurrencies and Web3 will be a part of Twitter’s future. Changpeng “CZ” Zhao, the CEO of Binance, now seems to be considering a closer connection between the social media platform and the exchange.
Speaking at Web Summit, Zhao asserted,
“Supporting a dozen to several hundred cryptocurrencies as payments is quite simple. Binance Pay is a method that we already have.”
The Binance Pay service, he continued, allows customers to pay businesses in “any cryptocurrency, currency, or fiat currency they prefer,” with Binance managing the conversion to the chosen currency of the business at “no extra charge.”
In relation to Twitter, Binance aims to be “supportive on anything that is to do with crypto or Web3.” according to Zhao. He added that his team was ready to help because they have all the necessary technologies, expertise, and products to add value.
Binance Pay Will Help With Subscriptions
The Binance CEO discussed additional possible applications for cryptocurrencies on Twitter. He claimed that plans for a paid membership could be done “very easily, globally,” using cryptocurrency as a means of payment.
He also supported Musk’s capacity to handle any challenges that may arise from managing several firms at once.
Since Musk’s proposal to acquire Twitter became known, rumors have circulated regarding the extent to which crypto and Web3 technologies may figure into his plans for the firm.
Musk Open to Web3 On Twitter
In a statement he published last week about the reasons he purchased Twitter, the founder of Tesla avoided mentioning any cryptocurrencies or blockchain concepts, instead attributing the decision to his conviction in the value of a “common digital town square.”
He has nonetheless stated that he is open to using blockchain-based approaches to do so. He proposed charging users a tiny fee to register messages on-chain in leaked messages that were made public last month in an effort to make spamming prohibitively expensive for bots and crooks.
Curiosity about whether he would find a way to link popular meme coin DOGE with Twitter was compounded yesterday when he made a cryptic tweet that suggested he might.
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