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Elon Musk will turn social network X into a bank account: what the changes will be like

Elon Musk will turn social network X into a bank account: what the changes will be like

Users of the former social network Twitter will now have an option to send money to other users, buy products in stores and even earn interest on the money they have in their accounts.

Elon Musk will turn social network X into a bank account: what the changes will be like

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According to the social network X itself, the platform would allow the option to send money to other users, buy products in stores and even earn interest on the money they have in their accounts, as would be done with a bank account.

The one who confirmed it was Christopher Stanleyhead of payments information security at X said There will not only be the option to “tip” and would be expanded to include an in-app wallet capable of storing and sending money to any other X user.

What will the changes in X be like?

“As things evolve, you can earn interest, buy productseventually use it to buy things in stores (like Apple Pay),” Stanley said, adding that the “ultimate goal” of payments on X was to create a fully functional financial ecosystem.

And he expanded: “The ultimate goal is that if you ever have any incentive to take money out of our system, then we have failedyou should never need to withdraw money because you should be able to do anything you need on our platform.”

Stanley’s statements occur only tthree days after X obtained a money transmitter license in the state of Tennessee on April 19.

Source: Ambito

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