In order to give cryptocurrencies a seat at the table and a more inclusive presence, cryptocurrency exchange Binance has invested $500 million in Elon Musk’s acquisition of the social media network Twitter.
Changpeng Zhao, the CEO of Binance, otherwise known as CZ, now seems to be considering a more thorough combination of the social media network and the crypto exchange.
“It’s very easy to support a dozen, a couple of hundred cryptocurrencies as payments. We already have a solution that does that: Binance Pay,” said CZ when addressing the topic at the Web Summit.
The service, he continued, allows customers to pay merchants in any coin, currency, or fiat money of their choosing, with Binance managing the exchange to the chosen currency of the merchant at no additional cost.
CZ made it apparent that Binance will be there to support Twitter on any matter that relates to either cryptocurrencies or Web3. CZ went on to say: “We have all the technologies, we have the know-how, we have the products, so we’re ready to help.”
The two execs have yet to meet, and this meeting has not occurred due to CZ’s and Elon Musk’s busy schedules.
Furthermore, he has not yet requested a full outline of Musk’s objectives for Twitter. Changpeng Zhao noted that the speaker had mentioned Dogecoin (DOGE), which charges for tweets, comments, and the blue tick. He trusts that all of those changes are on the horizon.
CZ also stated, although hesitantly, that he is ready to join the Twitter board should Musk ask him to do it. Changpeng Zhao said that if asked, he would definitely do it as a favor; he is not jumping at the chance seeing as he is already rather busy with Binance.