Elon Musk, CEO of SpaceX and Tesla and proprietor of X, previously Twitter, attends a U.S. Senate bipartisan Artificial Intelligence (AI) Insight Forum on the U.S. Capitol in Washington, D.C., on Sept. 13, 2023.
Stefani Reynolds | AFP | Getty Images
X proprietor Elon Musk is trying to create a future through which X customers can use the platform for his or her complete financial lives, in line with a report from The Verge.
Musk informed staff in a gathering Thursday that the plan is to roll out the function in 2024, mentioned The Verge’s report, which additionally quoted CEO Linda Yaccarino as saying that it’s a “full alternative” within the subsequent calendar 12 months.
“When I say funds, I really imply somebody’s complete financial life,” Musk mentioned within the assembly, in line with The Verge’s article, citing audio it obtained. “If it includes cash. It’ll be on our platform. Money or securities or no matter. So, it is not similar to ship $20 to my pal. I’m speaking about, like, you will not want a checking account.”
X is working on securing cash transmission licenses throughout the U.S., The Verge reported. The firm already has licenses for cash transmission or cash providers in 9 states, in line with the Nationwide Mortgage Licensing System.
Musk’s need to develop X’s financial part falls according to his beforehand laid-out ambition to make X “the everything app,” introduced when he rebranded the platform in July.