X (Twitter) Licensed New Payment Service Remittance In Mississippi

Key Points:

• X (formerly Twitter) received its payment services remittance license in the state of Mississippi today.
• This is X’s eighth license in the US to be approved.
• X is developing software with the ultimate goal of enabling payments on its platform.

According to Watcher.Guru, X (formerly Twitter) received a payment service remittance license in the state of Mississippi today.

It has been reported that X is seeking regulatory permission to enter the US payments industry and that the social media giant is developing software with the ultimate goal of enabling payments on the platform. his rock.

Since then, the social media behemoth owned by Elon Musk has received payment management licenses in eight states in the United States, including Arizona, Georgia, Maryland, Michigan, New Hampshire, Missouri, and Rhode Island. Mississippi is the eighth license of the social media platform in the US to be approved.

This development confirms the great success of X’s agenda in the financial services sector. The description of the money transmitter license suggests it is a legal prerequisite for companies wanting to engage in cryptocurrency-related activities on behalf of their users.

This empowers the social media platform to facilitate the storage, transfer, and exchange of digital currencies. Furthermore, it allows the company to provide a wide range of services related to crypto assets, as stated in the approval.

Musk’s vision of becoming an everything app is slowly becoming a reality, with new revenue streams developing before our eyes. The social media platform will continue to increase its revenue stream, hopefully with more states following suit in issuing licenses.

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