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Musk aims to transform X into financial powerhouse by mid-2024 | Scoop

social media platform X-unsplash — In July, billionaire entrepreneur Elon Musk said that users would be able to conduct their ‘entire financial world’ through X. – Unsplash pic, December 22, 2023

Musk aims to transform X into financial powerhouse by mid-2024

X's entry into financial arena is awaiting critical approvals for money transfer licences

Updated 22 December, 2023

22 December, 2023

12:33 PM MYT

WASHINGTON – Billionaire entrepreneur Elon Musk said that social media platform X intends to begin service as a financial platform by mid-2024, pending approval of licences, reported Sputnik.

“We’re just waiting for the final approvals to come through for the money transfer licences,” Musk said yesterday during a live conversation via X.

“I think we’ll probably get our approvals early next year… I would be surprised if it takes us longer than the middle of next year to roll out payments.”

The platform obtained licences in a majority of states, but the effort is “irrelevant” until California and New York approve licences, Musk said.

In July, Musk said that users would be able to conduct their “entire financial world” through X. – December 22, 2023

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