Musk's vision of Twitter is just "Reddit"? 😬; JPMorgan is the Microsoft of Banking 😎; Will FinTech companies become Media Companies in 2023? 🤔

FinTech is Eating the World, 17 January

Hey Everyone,

Happy Tuesday! Today’s issue is the best one yet 🔥 We’re looking at Elon Musk's vision of Twitter, which is… just "Reddit"? (& where the real potential is), JPMorgan, which is the Microsoft of Banking (they are killing it + JPM’s badass FinTech strategy), and question whether FinTech companies will become Media Companies in 2023? (you will be surprised!). Let’s jump straight into the awesome stuff.

Musk's vision of Twitter is just "Reddit"? 😬

The news 🗞 Twitter has been shipping new features like Microsoft has been shipping software. Social media giant owned by Elon Musk has seemingly chosen payments heavyweight Stripe to support an upcoming new "Coins" feature.

More on this 👉 According to security research and data miner Jane Manchun Wong, Twitter’s new Coins feature will let users reward creators for their content with virtual coins purchased online using fiat that would be processed via Stripe. These tweet awards come in a variety of exclamations, like “mind blown,” "bravo,” and “gem,” to name a few, all of which will be attached to the coins.

Furthermore, Twitter developers are reportedly building out a coin purchasing dashboard and coins menu that directs users to the purchase screen.

Payment distributions will seemingly also be completed in fiat, once creators have accumulated at least $50 in awards. Stripe should support this as well.

What does it mean? 🤔 It might be too early to call it, but it does feel like Twitter is starting to lose track… Along with the potential to become the Super App PayPal, Klarna, & Revolut always dreamed of…

Here’s more on that + the takeaway: