Ripple-Backed Startup Dharma Reveals New Twitter Payments System

The crypto market managed to recover its losses from March 12, and Bitcoin was even able to surpass the important resistance level of $7,500.

Analysts say that the coin might be heading to $8,000 now. Amidst the global crisis triggered by the coronavirus pandemic, interest in BTC and the crypto industry seems to be on the rise, with more people seeing a flight to safety in the king coin.

Dharma launches new payments system

It’s been revealed that the finetch startup Dharma launches a new system that is allowing Twitter users to accept UD dollar payments.

The platform’s solution reveals a way for people who are on Twitter to receive tips and micropayments really easily without any fees involved.

More than that, Dharma said that the money stored in its Wallets earns an APR of 3.6%, according to the reports coming from the online publication the Daily Hodl.

“Introducing social payments – a Twitter-native financial ecosystem. Today, you can send USD to any Twitter handle, regardless of where that person lives — even if they don’t have a Dharma account. Now every Twitter handle accepts (and earns interest on!) payments.”

In order to send money to a user on Twitter, Dharma customers will have to first deposit funds into their Dharma wallet app.

After that, a user will have to enter the recipient’s Twitter handle in the app to designate the funds and this will trigger a tweet that will alert the recipient that they just got money.

The tweet includes a link that recipients can click in order to create a Dharma account in order to accept the payment.

The fintech received funding from Ripple, Coinbase Ventures and more.


Companies Mentioned

Coinbase
Coinbase

Coinbase is a digital currency exchange headquartered in San Francisco, California.

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Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

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