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Crypto payment support will soon be available on social networking platform X, company gets currency transmitter license
Twitter This license gives a company the right to facilitate the custody transfer and exchange of digital currencies. According to a new report, X has acquired a money transmitter license in Rhode Island.
Elon Musk's ex has acquired a money transmitter license for the microblogging platform in the US state. Social networking platform X, formerly known as Twitter, may soon support crypto as well as fiat currency payments.
This license gives a company the right to facilitate the custody, transfer, and exchange of digital currencies. Musk, who acquired X last year, has said he wants to turn it into an "everything app".
According to a new report, X has secured a money transmitter license in Rhode Island. According to the report, a money transmitter license is a legal requirement for money transfer companies in the US. That being said, the payments feature on X may initially only allow payments in fiat currencies. However, in the later stages of its upgrade, this feature may also allow the transfer and exchange of cryptocurrencies.
