Elon Musk’s goal of transforming X into a financial platform is finally becoming a reality.
X just launched its own digital wallet with peer-to-peer Visa services. The company struck the mega-deal with the biggest credit card network across America yesterday. Now, it is Visa’s first X Money account partner.
The great news was shared by CEO Linda Yaccarino through a post published on X where she provided more details about the breakthrough deal. This means X users can transfer funds from bank accounts and the app’s digital wallet. They can even take part in fast peer-to-peer payments through either Venmo or Zelle.
This is the first concrete move from the app to design a fabulous financial ecosystem. Musk has been working hard to bring this vision to life for a while now but was awaiting clearances which was a struggle. But it seems like the tide is finally turning in his favor of X being an ‘everything’ platform.
Musk also shared previously how he wanted more and more users to use X as their reliable financial world. We do remember that a while back, Twitter tried to roll out a feature for tips through Bitcoin. Users had the option to include crypto wallet addresses and get payments across the world’s biggest digital token. To actually get the status of transforming into a money service company needed far greater navigation as the landscape was more complex.
This is why Musk tried and failed several times to attain licensees for operations in the US. today, it’s licensed across 41 different American states and even registered with FinCEN.
The company is said to roll out in the first quarter and deals with various financial partners were on the horizon as per one person having knowledge about this situation. One leading use of this option is to give creators on websites the chance to accept payments and store money without any external firm being included.
Towards the end of 2022, Musk shared how the app’s advertisers could soon witness this brilliant feature of upcoming payments. It could offer some great banking offerings like a financial account having a high yield. Now, it seems that goal is a reality.
Image: DIW-AIgen
Read next: Meta in Panic Mode? DeepSeek’s AI Breakthrough Sends Shockwaves Through Silicon Valley
X just launched its own digital wallet with peer-to-peer Visa services. The company struck the mega-deal with the biggest credit card network across America yesterday. Now, it is Visa’s first X Money account partner.
The great news was shared by CEO Linda Yaccarino through a post published on X where she provided more details about the breakthrough deal. This means X users can transfer funds from bank accounts and the app’s digital wallet. They can even take part in fast peer-to-peer payments through either Venmo or Zelle.
This is the first concrete move from the app to design a fabulous financial ecosystem. Musk has been working hard to bring this vision to life for a while now but was awaiting clearances which was a struggle. But it seems like the tide is finally turning in his favor of X being an ‘everything’ platform.
Musk also shared previously how he wanted more and more users to use X as their reliable financial world. We do remember that a while back, Twitter tried to roll out a feature for tips through Bitcoin. Users had the option to include crypto wallet addresses and get payments across the world’s biggest digital token. To actually get the status of transforming into a money service company needed far greater navigation as the landscape was more complex.
This is why Musk tried and failed several times to attain licensees for operations in the US. today, it’s licensed across 41 different American states and even registered with FinCEN.
The company is said to roll out in the first quarter and deals with various financial partners were on the horizon as per one person having knowledge about this situation. One leading use of this option is to give creators on websites the chance to accept payments and store money without any external firm being included.
Towards the end of 2022, Musk shared how the app’s advertisers could soon witness this brilliant feature of upcoming payments. It could offer some great banking offerings like a financial account having a high yield. Now, it seems that goal is a reality.
Image: DIW-AIgen
Read next: Meta in Panic Mode? DeepSeek’s AI Breakthrough Sends Shockwaves Through Silicon Valley