Linda Yaccarino, the CEO of X (previously Twitter), revealed on Sept. 21 that the social media firm will quickly introduce fee options.
Yaccarino posted a video that described numerous upcoming options together with peer funds (“paying your buddy again for that cake”), retail funds (“snagging that new pair of sneakers”), and rewards (“incomes an earnings by being uniquely you”).
The video additionally listed a number of upcoming non-financial options associated to article sharing, photograph and video content material, Areas audio, and video calls.
Hypothesis that X may incorporate funds started to construct after the corporate obtained fee licenses in a number of U.S. states, primarily in July and August. Present data point out that the corporate has obtained cash transmitter and related licenses in Arizona, Georgia, Maryland, Michigan, Mississippi, Missouri, New Hampshire, and Rhode Island. Its has additionally filed purposes with the Monetary Crimes Enforcement Community (FinCEN), indicating that the corporate intends to supply fee providers all through the U.S.
No new crypto options (for now)
Although X’s new fee providers didn’t embrace any cryptocurrency-related options, earlier studies counsel that that is nonetheless a risk.
In January, the Monetary Instances cited two unnamed sources who detailed the event of upcoming fee options. These sources mentioned that Elon Musk, who had just lately acquired Twitter, needed upcoming fee options to deal with fiat transfers whereas utilizing a design that might permit for eventual cryptocurrency help.
Musk was CEO of Twitter at the moment, and he at present serves as government chair and CTO of X.
Twitter/X at present presents sure crypto-related options. The platform helps Bitcoin and Ethereum tipping between customers and permits customers to set non-fungible tokens (NFTs) as their profile image.
It has additionally partnered with Stripe to supply creator payouts in USDC to pick customers, and with eToro to supply customers with entry to inventory and crypto purchases.
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