In an effort to give cryptocurrency a seat at the table, cryptocurrency exchange Binance has invested $500 million in Elon Musk’s takeover of the social media network, Twitter.
Binance CEO Changpeng Zhao (CZ) now appears to be considering a deeper integration of the exchange and the social media platform. He recently stated at the Web Summit, a technology conference in Portugal, that Binance will play a role in bringing social media and Web3 together in order to broaden the use and adoption of crypto and blockchain technology.
He said, “We have all the technologies, we have the know-how, we have the products, so we’re ready to help.”
He also emphasized that Binance pay could bridge the gap for crypto payments on Twitter. He pointed out, “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.”
He added that the service enables users to pay merchants in whatever coin or currency or fiat currency they choose, with Binance handling the conversion to the merchant’s currency of choice at no extra charge.
Zhao added that he has yet to meet Musk in person and that he has yet to ask for a detailed plan of Musk’s plans for Twitter.
The Binance CEO further stated that he’s prepared to join the board of Twitter, should Musk ask albeit he is reluctant.
“I’m indifferent to it. If I’m asked, I probably would do it just as a favor, but it’s not something I’m dying to do. I’m pretty busy with Binance already.”