X Secures Money Transmitter License in Utah
X has recently obtained a money transmitter license in Utah, expanding its ability to offer money transmitter services in 15 US states.
How X Plans to Compete with Visa and PayPal
X aims to become an “everything app” similar to Tencent’s WeChat. It plans to focus on improving user experience, infrastructure changes, and incorporating artificial intelligence and peer-to-peer payments.
X Considers Using Stablecoin Rails for Payments
If X wants to settle payments quickly, it could potentially utilize stablecoin rails. Visa has already adopted a high-performance blockchain for partners to send and receive USDC, a stablecoin pegged to the US dollar.
Argentina’s Bitcoin Bias and X Payments
X discontinued its Bitcoin money transfer service due to low awareness and demand. However, if X were to introduce its payment services in Argentina, it could gain traction as the country’s president supports “the freedom to transact” philosophy.
Hot Take: X’s Potential Incorporation of Crypto
The possibility of X integrating cryptocurrency into its payment services could have significant implications for the crypto market. It remains to be seen how X will navigate this space and whether it can successfully compete with established players like Visa and PayPal.
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