By the end of 2024, Elon Musk plans to roll out plenty of financial features on X (formerly Twitter). He wants to have users’ “entire financial life” on the platform. Musk wants to develop financial features on X in such a way that the platform becomes the center of your financial world.
As per reports, X is trying to acquire licenses in every state in the US to offer banking and money transfer services. The platform will roll out its financial features by the end of 2024, as Elon Musk came with this statement on Thursday.
In an audio meeting with The Verge, Elon Musk said,
“When I say payments, I actually mean someone’s entire financial life. If it involves money. It’ll be on our platform. Money or securities or whatever. So, it’s not just like send $20 to my friend. I’m talking about, like, you won’t need a bank account.”
Currently, X is trying to work on locking down money transmission licenses across the United States so that it is able to offer financial services. A few months ago, Musk discussed his plans to convert X into a financial hub. He even renamed Twitter after X.com, which was his online bank in the dot-com-boom era. X.com later became a part of PayPal.
Mus seems confident about X’s financial ambitions, as he proclaimed that he would be shocked if the company failed to roll out its financial features by the end of 2024. Musk wants to make the platform an “everything app.” Hence, turning X into a financial hub goes directly with this plan. The target is to make X like China’s WeChat, which offers access to a variety of services.
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