Top exchange Binance said it is now exploring blockchain integration on the platform, in a potential sign of introducing crypto payments.
In a possible precursor to accepting cryptocurrency payments, Binance stated it is currently investigating blockchain integration on the site. The crypto exchange announced that it is currently looking into integrating cryptocurrencies on the platform after investing $500 million in the takeover of Twitter.
A spokeswoman for the cryptocurrency exchange claimed that Binance is assembling a team to work on cryptocurrency-based Twitter solutions.
Binance To Integrate Crypto Payments On Twitter Soon?
A team is being formed by the cryptocurrency exchange to focus on crypto solutions for Twitter, according to a Reuters report. According to the story, which quoted a Binance spokeswoman, the team will focus on “how blockchain and cryptocurrency could be helpful to Twitter.”
Elon Musk seems to be giving attention to finding a solution to the problem of Twitter bot accounts. According to the source, Binance will try to address Twitter’s problems, such as the rise of bot accounts. The integration of cryptocurrency payments on Twitter could be the partnership’s next step, though. According to the Reuters story,
“The newly-formed team will explore how to build on-chain solutions to address Twitter’s issues including proliferation of bot accounts.”
The conversation reportedly will aid Elon Musk in creating strategic plans for Twitter’s expansion. The business will come up with ideas and tactics that could improve Twitter’s operations. The transition occurs when Twitter undergoes a paradigm shift as a result of Elon Musk’s takeover.
In his reflections on the goal driving his acquisition of Twitter, Elon Musk stated that he wants the platform to lessen differences. Additionally, CZ, the CEO of Binance, acknowledged that the company was an investor in the $44 billion Twitter transaction. According to CZ, his business put a $500 million commitment into the agreement with the goal of minimizing spam and phishing on Twitter.
Binance Expands CBDC Integration
In the meantime, the crypto exchange keeps broadening the range of international partnerships it has with crypto technology. The exchange recently stated that it was seeking to connect Kazakhstan’s CBDC initiative with the BNB network.
It was announced earlier this week that the National Bank of Kazakhstan intended to link the Digital Tenge, the nation’s digital currency, with the Binance network.
