JUST IN: Elon Musk’s X Gains Payment Processing License in 12 U.S. States, Crypto Payments Next?

Elon Musk’s company X, formerly known as Twitter, has secured licenses for payment processing in 12 U.S. states. This development is a significant step in Musk’s vision of transforming X into an all-encompassing app, which may eventually include crypto payments .

In recent months, X acquired money transmitter licenses in South Dakota, Kansas, and Wyoming, joining other states like Arizona, Georgia, and Michigan. This expansion is linked to X Payments LLC, the financial branch of X, which is set to manage these payment operations.

Screenshot of NMLS database

Musk’s ambitions don’t stop at traditional finance. The move hints at a potential foray into cryptocurrencies, like Dogecoin, although this has not been officially confirmed. Given Musk’s history with PayPal and his interest in disrupting the banking sector, integrating crypto seems a likely next step.

This progress comes amidst challenges, including a decline in ad revenue and the loss of major advertisers. However, X is adjusting its strategy by focusing on smaller businesses and integrating Musk’s AI, Grok, to generate additional income.

With X poised to become a major player in the payment processing arena, the tech world eagerly awaits to see how Musk’s vision will further unfold, particularly in the crypto space.

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