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In July, the social media giant X (formerly known as Twitter) replaced its iconic blue bird logo with a new ""X"" symbol logo, marking a formal departure from its well-known trademark. The company has also consistently expressed its ambition to ""integrate a global payment system."" It seems that X has taken a significant step in this direction, as it has obtained money transmitter licenses in four U.S. states.
In the latest update on August 13th, following approvals in New Hampshire, Michigan, and Missouri, the state of Georgia has also granted X a money transmitter license, further establishing the foundation for X's expansion into payments and other financial services.
Regarding this money transmitter license, it's understood that the requirements and privileges granted vary among U.S. states. Generally, these licenses allow companies to send, receive, and transfer funds for customers both domestically and internationally. Additionally, they often permit foreign exchange services, such as currency conversion between foreign currencies and the U.S. dollar, as well as the issuance of prepaid cards.
In fact, back in late October of the previous year, Elon Musk mentioned that acquiring X would act as a catalyst for creating an all-encompassing app. In his vision, X would include comprehensive functionalities like encrypted messaging, tweets, payments, and food ordering. Musk also noted that the acquisition of Twitter could accelerate the X plan by 3 to 5 years. With licenses secured in four U.S. states so far, X's plan to integrate a global payment system seems to have taken a significant stride.
It's worth remembering that there have been suggestions from insiders that Musk has been subtly hinting at the possibility of integrating Dogecoin into Twitter's payment system over the past few months. While this hasn't been realized or confirmed yet, and obtaining money transmitter licenses doesn't necessarily mean the inclusion of cryptocurrencies, digital asset enthusiasts continue to hold hopes for the combination of X and cryptocurrencies.
Of note is the newly appointed CEO of Twitter, Linda Yaccarino, who is not unfamiliar with the digital asset field. She is an advocate for open-source code and digital transparency. Recently, she mentioned a ""vision for payments"" in relation to the rebranding and transformation of Twitter ""X"": X represents a future state of limitless interaction, centered around audio, video, messaging, and payments/banking, creating a global marketplace for creativity, goods, services, and opportunities. With the support of artificial intelligence, X will connect everyone in ways we're just beginning to imagine. This statement appears to imply something intriguing. |
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Post time 29-8-2023 14:46:03
Post time 29-8-2023 15:05:55
