Twitter Inc. (NYSE: TWTR) is now testing Lightning Network-powered Bitcoin (CRYPTO: BTC) tipping service.
What Happened: According to a MacRumors report, Twitter's latest beta update allows to send Bitcoin tips to content creators through a Lightning Network integration in the "Tip Jar" feature added in May. While the option is not yet available to beta users, unused code suggests that the rollout will happen soon.
When the Twitter Tip Jar was first created, it supported Bandcamp, Cash App, Patreon, PayPal Holdings Inc. (NASDAQ: PYPL), and Venmo as payment methods linked to their profile — soon, a Bitcoin option is expected to roll out as well.
Why It's Important: The report follows the firm's CEO Jack Dorsey statement to investors in late July that Bitcoin is important to the company and that it was indeed going to be integrated into the Tip Jar.
The code included in the latest Twitter beta update reveals that a dedicated tutorial will guide users interested in using the Bitcoin Lightning Network integration and non-custodial Bitcoin wallets.
Twitter cites Strike, Blue Wallet, and Wallet of Satoshi as examples of custodial wallets and Muun, Breez, Phoenix, and Zap as non-custodial options.
The social media giant will use Strike to generate its Lightning payment invoices.
The report follows Dorsey recently announcing that Square’s new division TBD plans to build a decentralized Bitcoin exchange that will supposedly allow exchanging between the coin and fiat currency with no intermediaries.
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