This US State Gives Green Light to Elon Musk’s X Payments
In a swift development, X (formerly Twitter) is making strides in Elon Musk's plan to introduce payment features.
Nevada has granted X Payments LLC a money transmitter license, marking the 18th state in the U.S. to approve the exploration of payment services on the X platform.
Nevada’s Financial Institutions Division granted X Payments LLC the license for payment services within the state. Among 32 states where X applied for money transmitter licenses, 18 approvals have been secured for the integration of payment services.
CEO Linda Yaccarino and Elon Musk’s 2023 plans for X include diverse features like payment services, video/audio calling, and dating, envisioning the platform as an “everything app” for a more interconnected world.
Recent approvals from states like Wyoming, Rhode Island, Michigan, New Hampshire, and Missouri, along with Utah’s rejection, indicate X’s dynamic journey in obtaining money transmitter licenses.
READ MORE: India’s Crypto Community Calls for Tax Relief
While the exact launch date for payment services remains uncertain, Elon Musk hints at a mid-2024 timeframe. The integration of payment services also holds potential for Dogecoin transactions on X, aligning with Musk’s support for the cryptocurrency since October 2022.
DOGE is currently trading at $0.080, showing a 2% decrease in the last 24 hours. The 24-hour trading range is $0.0802 to $0.0828, with a 20% increase in trading volume—a possible sign of growing interest among traders.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
