Key Points:
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.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Mt Gox payout date is set for early July 2024, repaying creditors in BTC and…
The ETFSwap (ETFS) team has unveiled 50X leverage on its platform to ease decentralized crypto…
GDMining is a game-changer in this era of financial independence and digital innovation, providing an…
Crypto supporter Ronaldinho has publicly endorsed cryptocurrency, asserting its mainstream acceptance.
On June 22, the median Ethereum gas price fell to 2.9 gwei, the lowest since…
zkSync token airdrop aimed to build a resilient community with previous airdrop participation as a…
This website uses cookies.