Twitter to continue development of its own currency “Coin”

Continue development of Coin

Security researcher Jane Manchun Wong leaked a sample screen of “Coin”, which is believed to be Twitter’s own currency, on the 10th.

Twitter is working on Coins purchasing screen

On the web, Twitter Coins purchase will be done through Stripe https://t.co/RFpWswnZfG pic.twitter.com/eAzPWjfoye

— Jane Manchun Wong (@wongmjane) January 10, 2023

In the above tweet, Mr. Wong pointed out that Twitter, Inc. is “working on the development of a coin purchase screen.” The development of Coin was leaked last month, but it is not clear whether it is a crypto asset (virtual currency).

Relation: U.S. Twitter Inc. develops its own virtual currency “Twitter Coin”

In 2022, Wong was selected as one of Forbes’ “30 Under 30 People Who Will Change the World” in the social media category. Twitter titles also include software engineer.

And, according to LinkedIn’s own explanation, it’s been announcing undisclosed features on Twitter, Facebook, and others since 2017. Last year, it leaked that a rewards feature called “Twitter Awards” was in the works.

Twitter is working on Tweet Awards pic.twitter.com/4b8MSeIWNh

— Jane Manchun Wong (@wongmjane) March 11, 2022

According to Wong, Coin purchases are designed to be made through Stripe, a major online payment service company. Stripe is expanding its crypto support, last month adding support for 16 Ethereum (ETH) and Solana (SOL) wallets, as well as DeFi (decentralized finance) and electronic marketplaces.

Relation: Compatible with payment services Stripe, Magic Eden, Argent, etc.

Relation: What is DeFi (decentralized finance) | A thorough explanation of the advantages and disadvantages that even beginners can understand

In April last year, Stripe announced a function to receive earnings on Twitter in virtual currency. First, he explained that he would start experimenting with the service by limiting users, and that it would initially support the stablecoin “USDC”.

Relation: Twitter to test virtual currency for payment of revenue

In addition, Mr. Wong said to the cryptocurrency media Decrypt, “We have not been able to confirm clear evidence that Coin is a cryptocurrency.”

Possibility of being cautious about disclosing information

As mentioned above, information about Coin was leaked last month. At the time, Mr. Wong explained that it was “unclear whether development was being actively carried out,” but the sample screen this time shows that development is likely to be progressing.

Nima Owji, an app researcher who leaked information in December, also explained to Decrypt, “I can’t judge whether cryptocurrencies will be involved in Coin or Twitter Awards.” He said the development could go on privately, noting that “we won’t be adding any code until release, even if it’s related to cryptocurrencies.”

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