The company has hired Tess Rinearson as the team's engineering lead to "set the strategy for the future of crypto at (and on) Twitter", The Verge reported.
"First, we will be exploring how we can support the growing interest among creators to use decentralised apps to manage virtual goods and currencies and to support their work and communities," Rinearson said on Twitter.
"Looking farther ahead, we will be exploring how ideas from crypto communities can help us push the boundaries of what's possible with identity, community, ownership and more," she added.
Rinearson said that her team would be working closely with Bluesky, an independent Twitter-funded effort to create a decentralised social network standard.
Rinearson will work under Twitter Chief Technology Officer Parag Agrawal, and their to-be-hired team will help drive Twitter's push toward decentralising social media, the company said.
According to the company, there is "massive and growing interest among creators to use decentralised apps to manage virtual goods and currencies," and Rinearson will be focused on those issues, "with a long term goal of exploring how ideas from crypto can help us push the boundaries of what's possible with identity, community and more."
In September, Twitter announced it was enabling creators on its platform to be tipped in Bitcoin, and the company said it will explore crypto payments for other features like its Ticketed Spaces.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)