Elon Musk’s X, previously known as Twitter, has just announced plans to introduce peer-to-peer payments within the year in a recent blog post.
This development aims to unlock increased user functionality and commerce opportunities, aligning with X’s vision to revolutionize in 2024. However, specific details on the payment mechanism and the official launch date remain undisclosed.
X Payments LLC, the payment arm of the platform, has so far secured money transmission licenses in only 14 states according to records on the Nationwide Multistate Licensing System website.
Since Musk’s acquisition of X for $44 billion in late 2022, the platform has undergone substantial transformations. Musk envisions converting X into an expansive “everything app,” amalgamating functions ranging from social interactions to financial management.
Musk’s prior post on X highlighted plans to incorporate comprehensive communication features and enable users to manage their entire financial portfolios. Earlier collaborations with eToro enabled access to cryptocurrencies, stocks, and diverse financial assets.
The latest announcement indicates X’s intention to introduce more original content and talent, reinforce creator investments, content partnerships, and bolster advertising efforts throughout the year.
The company emphasizes its transformation from being merely an app to evolving into an encompassing interface uniting various experiences for all users.
