NEW TWITTER BRAND, X, SETS TO EXPAND INTO BANKING AND CRYPTOCURRENCY

In view of his vision to transfigure Twitter into an ‘everything app’, Elon Musk has successfully completed the official rebranding of the micro-blogging site to “X”.

 

Recently, the Twitter CEO, Linda Yaccarino, insinuated X’s likely focus on payments and banking features, suggesting that the platform aims to become a comprehensive financial service provider.

 

It can be regurgitated that after acquiring Twitter,  Musk expressed interest in offering FinTech services on the platform, including peer-to-peer transactions, savings accounts, debit cards, amongst others.

 

Sequel to this, on July 5, 2023, Twitter successfully acquired money transmitter licenses from Arizona, Michigan, Missouri, and New Hampshire, showing its determination to enlarge its financial services within these states.

 

The licenses will allow X to aid money transfers, boosting its capabilities beyond a mere social media platform.

 

With the goal of delivering delightful user experiences across various domains, X will continue to develop experiences in video, audio, messaging, and banking.

 

Additionally, X contemporarily provides real-time updates on the status of stocks and cryptocurrencies, displaying their current prices for users.