ELON MUSK's social media platform X was announced on Tuesday Release of digital wallet and piercoupia payment service visa。
X signed a contract with VISA, the largest credit card network in the United States, and became the first partner called X -Money Account, and CEO's Linda Yaccarino announced on a platform post.
She said that VISA would allow X -users to move their funds between the conventional bank account and their digital wallet and immediately pay the peer to pia like Zelle and Venmo.
This is the first specific movement from X, creating a financial ecosystem for social media sites. This was called Twitter before MUSK purchased in 2022. At that time, MUSK stated that the $ 44 billion acquisition was a way to create “all apps.” He later stated that the platform would allow users to perform the “financial world as a whole.”
In 2021, while JackdauSea was on the Twitter, the company launched a bitcoin chip function that allows users to add a cryptographic wallet address with the world's largest digital token and receive payments.
However, in order to acquire the position as a money service business in the United States, it was necessary to navigate a much more complicated regulatory environment.
MUSK has applied for these licenses for more than a year. According to the website, X Payments LLC is licensed in 41 and registered on Financime Enforcement Network (Fincen).
The X -Money Service is scheduled to start in the first quarter, and there is a possibility that you will be traded with more financial partners, according to those who have knowledge of the situation.
One of the first use cases of X -Money was to accept the payment of the site and save money without external organizations.
In November 2022, the mask proposed a platform advertiser at a meeting to publish a platform that could ultimately provide certain bank functions, such as a high -yielding money market account, in the future.
VISA representatives have refused to comment on this issue.
