X Announces 'X Money' Payment System Launch in 2025
CEO Linda Yaccarino reveals plans for integrated payment services as part of X's evolution into an 'everything app'.
X, formerly known as Twitter, is set to introduce 'X Money', an integrated payment system, in 2025.
CEO Linda Yaccarino announced the development on December 31, 2024, highlighting the platform's commitment to connecting users in unprecedented ways.
This initiative aligns with owner Elon Musk's vision of transforming X into a comprehensive 'everything app', encompassing social media, financial services, and more.
The company has been actively securing money transmitter licenses across the United States, with approvals in 33 states as of August 2024.
This regulatory progress is crucial for facilitating in-app financial transactions.
While specific features of X Money have not been fully disclosed, the platform is expected to support peer-to-peer payments, enabling users to store funds, transfer money, and potentially link bank accounts.
The integration of cryptocurrency functionalities remains speculative, despite Musk's known interest in digital assets.
The launch of X Money represents a strategic move to diversify revenue streams beyond advertising, positioning X as a multifaceted platform in the competitive social media landscape.
As the rollout approaches, further details are anticipated to shed light on how X Money will operate and its impact on user engagement.
CEO Linda Yaccarino announced the development on December 31, 2024, highlighting the platform's commitment to connecting users in unprecedented ways.
This initiative aligns with owner Elon Musk's vision of transforming X into a comprehensive 'everything app', encompassing social media, financial services, and more.
The company has been actively securing money transmitter licenses across the United States, with approvals in 33 states as of August 2024.
This regulatory progress is crucial for facilitating in-app financial transactions.
While specific features of X Money have not been fully disclosed, the platform is expected to support peer-to-peer payments, enabling users to store funds, transfer money, and potentially link bank accounts.
The integration of cryptocurrency functionalities remains speculative, despite Musk's known interest in digital assets.
The launch of X Money represents a strategic move to diversify revenue streams beyond advertising, positioning X as a multifaceted platform in the competitive social media landscape.
As the rollout approaches, further details are anticipated to shed light on how X Money will operate and its impact on user engagement.
Comments
Oh ya 3 days ago
Just remember that with a digital currency the powers that be can make you do anything they want just by cutting off your access to your funds .and government has proven to be not your friend,do you remember safe and effective ?
