Elon Musk, the owner of X (formerly known as Twitter), recently revealed new details about the company’s planned payment services. During an all-hands staff meeting, Musk stated that the app will cover almost all areas of finance, including money, securities, and more. He emphasized that X aims to be more than just a platform for sending money to friends, but rather a comprehensive financial solution that eliminates the need for a bank account. While Musk did not mention integrating new cryptocurrency features, X already includes certain crypto features such as Bitcoin and Ethereum tipping and NFT profile picture support. The company is currently awaiting approvals for its payment features, which are expected to be complete in the coming months. X has already obtained money services licenses in nine U.S. states. Executives anticipate that the payment features will be fully operational by 2024, with CEO Linda Yaccarono stating that it will become a “full opportunity” by that time. Musk expressed his ambition for X to surpass China’s WeChat app, which combines payment and social media features. He also mentioned plans to expand X’s social features to include job recruitment and dating, as well as integrating the app with TVs for enhanced video features. Musk praised the platform’s community fact-checking system and highlighted the significant increase in creator numbers and payouts. Overall, X aims to transform into an all-encompassing app that revolutionizes the way people manage their financial lives.

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Information	Details
Geography	North America
Countries
Sentiment	positive
Relevance Score	1
People	Elon Musk, Linda Yaccarono
Companies	Twitter, The Verge, Bitcoin, NFT, NORAD, USNORTHCOM, WeChat, Ethereum
Currencies	Bitcoin, Ethereum
Securities	None