An “X Payments” Account Appears on Social Media
An account named “X Payments” was spotted on social media, possibly aligning with Elon Musk’s vision for X as a global financial hub. While it is uncertain, analysts believe that digital assets may be part of these plans. However, Musk has emphasized that fiat transactions will take precedence in terms of engineering resources.
X Expands Money Transmitter Licenses and Partners with eToro
X has applied for multiple money-transmitter licenses across the United States and has obtained approval in states like Utah. Additionally, the company has collaborated with eToro to facilitate crypto and stock trading within the app.
Web3 Features Rolled Back by X
In a previous report by crypto.news, it was mentioned that X is retracting certain web3 features. The introduction of NFT profile photos after Musk’s acquisition of the company has been removed, and the option to upload blockchain-based digital collectibles is no longer functional.
Hot Take: X Continues to Forge Ahead in Financial Innovation
X’s establishment of an “X Payments” account on social media further solidifies its commitment to revolutionize global financial activities. While there is speculation about the integration of digital assets, Musk’s emphasis on fiat transactions suggests a multi-faceted approach. With the expansion of money transmitter licenses and partnerships with eToro, X aims to provide users with seamless trading experiences. However, the rollback of certain web3 features indicates an evolving strategy that focuses on refining core functionalities. As X continues to make strides in financial innovation, it remains an intriguing player to watch in the crypto space.
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