Elon Musk has a big dream for Twitter, now known as X. He wants it to be an “everything app.”
The owner of X, Elon Musk, has frequently spoken about his plan for the platform that he bought a year ago.
He says he envisions people doing a lot more than just sharing their thoughts with the world on X.
Earlier this year, a report said that Elon Musk wants people to use X for money transactions soon.
Now, there are suggestions in reports that the leader of X is getting closer to making this dream come true.
X gets money-transfer license
As per a report from Firstpost, X has successfully got permission to send money in Pennsylvania.
This makes it the 13th time X has received this kind of permission in the United States.
The recent permission, received earlier this week but not shared before, is a big step forward in Musk’s plan to make X into an app that does many things.
The permission from Pennsylvania, shown in a public database on Monday, allows X to help with sending money.
This opens the door for X to add features for payments on its platform. Users can now send money to each other, similar to how platforms like PayPal’s Venmo work.
Elon Musk on X replacing banks
In October this year, a report from The Verge shared that Musk wants everyone in the world to use X as their main platform for anything related to money.
He also mentioned that X users won’t need a bank account, and the app will handle all their financial needs.
The report mentioned that by the end of 2024, X will handle all kinds of financial matters.
In a recorded internal meeting at X, Musk told his employees, “When I talk about payments, I mean taking care of someone’s entire financial life.
If it has to do with money, it will be on our platform. Money, investments, or anything else. So, it’s not just sending $20 to a friend. I mean, you won’t need a bank account.”
Musk said that these features are expected to be available by the end of next year.
