X (formerly Twitter) obtains remittance service licenses in multiple states to become a financial platform



It is known that Elon Musk is trying to make X (formerly Twitter) into an ``app that can do anything, including financial transactions'' rather than an SNS. In line with this trend, we have learned that they have obtained licenses as a remittance service operator in several states, including South Dakota.

X (Twitter) Obtains Money Transmitter License As Elon Musk Moves Toward Crypto Payments - TheStreet Crypto: Bitcoin and cryptocurrency news, advice, analysis and more

https://www.thestreet.com/crypto/innovation/elon-musk-x-twitter-get-money-transmitter-license-in-move-to-crypto



X is now licensed for payment processing in a dozen US states | TechCrunch

https://techcrunch.com/2023/12/05/x-is-now-licensed-for-payment-processing-in-a-dozen-us-states/

Elon Musk has long wanted to create an ``all-inclusive service'' centered on a financial platform, and has claimed that the acquisition of Twitter in October 2022 will accelerate the creation of super app ``X.'' I did. Mr. Musk renamed Twitter to X in July 2023 because he believed that ``Twitter'' was not an appropriate name for an app that also allows financial transactions. The following article summarizes how strongly Mr. Mask feels about 'X'.

What was 'X.com' originally like? -GIGAZINE



Musk told employees that he plans to make X 'the central financial app that replaces banks and securities companies.'

Elon Musk tells employees that X (formerly Twitter) will replace banks and securities companies by the end of 2024 - GIGAZINE



The states in which X has obtained a remittance service operator license to become a 'central financial app' so far are Arizona, Georgia, Iowa, Maryland, Michigan, Mississippi, Missouri, New Hampshire, and Rhode Island. It was also licensed in South Dakota on November 27, 2023, Kansas on November 28, and Wyoming on November 29, 2023.

This information was reported by the news site The Street, and Mr. Musk confirmed it by posting the word 'progress'.



In addition, Mr. Musk has publicly stated that he has no plans to issue virtual currency tokens at his companies X, Tesla, SpaceX, and Neuralink, but on the other hand, it is possible that X will have the ability to handle virtual currencies. The Street points out that it does not deny sexuality and may actually be able to handle virtual currencies.

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in Software, Posted by logc_nt