[CNMO Technology News]Recently, Linda Yaccarino, CEO of Tesla CEO Elon Musk’s social media platform X (formerly Twitter), said at the Cannes International Creative Festival that the X platform will launch investment trading functions and explore the launch of X-brand credit or debit cards, which may be launched within this year as early as this year. This move aims to build X into a one-stop platform similar to WeChat that integrates messaging, payment and shopping functions.
Prior to this, the X platform has announced the launch of a digital wallet and peer-to-peer payment service X Money, and has reached a partnership with Visa. Yaccarino also said that X Money will be launched in the United States first and then promoted to other regions, where users can purchase goods or reward creators through the service.
According to Passionategeekz, according to data from the multi-state licensing system in the United States, X has obtained a currency transmission license in 41 states in the United States and plans to be the first to pilot it in 39 states, while Alaska, Hawaii and other states have not yet been approved.
Passionategeekz noticed that Musk completed the acquisition of Twitter for US$44 billion in 2022 and has been committed to building it into a super app similar to WeChat, providing multiple functions such as social, shopping, and payment. In May this year, Musk said that X Money, a payment and banking app under the X platform, had entered a very small-scale beta testing phase. Some industry insiders speculated based on X Money’s code that it is likely to support cryptocurrencies (such as Dogecoin and Bitcoin). It is expected that the initial functions will only include tip payments and creator income transfers, and will be expanded to comprehensive banking services in the future.
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