Elon Musk’s Social Media Platform X announced on Tuesday to launch a digital wallet and pi -to -pier payment service. visa。
X signed a contract with VISA, the largest credit card network in the United States, and became the first partner called X -Money Account, and CEO’s Linda Yaccarino announced on a platform post.
VISA said Yaccarino, like Zelle and Venmo, that X -users could move their funds between the conventional bank account and their digital wallet and immediately pay the peer to pia.
This is the first specific movement from X, creating a financial ecosystem for social media sites. This was called Twitter before MUSK purchased in 2022. TeslaHe said that the acquisition of $ 44 billion was a way to create “all apps.” He later stated that the platform would allow users to perform the “financial world as a whole.”
In 2021, while JackdauSea was on the Twitter, the company launched a bitcoin chip function that allows users to add a cryptographic wallet address with the world’s largest digital token and receive payments.
However, in order to acquire the position as a money service business in the United States, it was necessary to navigate a much more complicated regulatory environment.
MUSK has applied for these licenses for more than a year. According to the website, X Payments LLC is licensed in 41 and registered on Financime Enforcement Network (Fincen).
The X -Money Service is scheduled to start in the first quarter, and there is a possibility that you will be traded with more financial partners, according to those who have knowledge of the situation.
One of the first use cases of X -Money was to accept the payment of the site and save money without external organizations.
In November 2022, the mask proposed a platform advertiser at a meeting to publish a platform that could ultimately provide certain bank functions, such as a high -yielding money market account, in the future.
VISA representatives have refused to comment on this issue.
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