Elon Musk Social Media X platform on Tuesday announced Starting a digital wallet and payment services in Peer Visa.
X has concluded a contract with Vis, the largest Network of an American credit card, to be the first partner for what he calls X Money Account, the Linda Yaccarino CEO of the Platform post reported.
Visa will allow users to move funds between traditional bank accounts and their digital wallet and make current payments of peers, as with Zelle or venmo.
It is the first specific move from the X to create a financial ecosystem for the website of social media, which was called Twitter before male bought That is 2022. At the time, Musk said an acquisition of $ 44 billion was a way to create “all App. “Later he said that the platform would allow users to implement their”the whole financial workd“On it.
2021 While Jack Dorsey was still at the forefront X (then Twitter), the company launched a Bitcoin Tipping feature that made it possible for users to add its Crypto address of wallets and receive payments in the world’s largest digital token.
But achieving status as a job with monetary services in the United States demanded that a far more complex regulatory landscape was moving.
More than a year, Musk has applied for these licenses for X. According to his websiteX Payments LLC is licensed in 41 countries and registered in a network for conducting financial crimes (Fins).
The X Money is expected to be launched in the first quarter and deals with more financial partners, according to a person who knows about the situation.
One of the first cases of use for X Money is to enable creators on the site to accept payments and store funds without external institutions, said this person, who spoke about the state of anonymity to talk about internal things.
In November 2022Musk suggested to the advertisers of the platform at a meeting publicly aired in the premises that this type of payment can ultimately offer certain banking features, such as an account with a high money yield.
Vis representatives refused to comment on the issue.
