In a weblog put up yesterday describing their 2024 plans, we realized that X will probably be launching peer-to-peer funds later this 12 months.
We all know that the corporate has been slowly acquiring cash transmitter licenses because it builds out its funds capabilities. However that is the primary time we’ve got heard about concrete plans to launch a funds service.
There was no element on how the service would possibly work or how it could compete with established gamers like Venmo, Money App and Zelle.
Elon Musk indicated final 12 months that X needs to have “the power to conduct your total monetary world” when discussing the rebrand from Twitter to X.
I believe they are going to face an uphill battle for adoption except they will create one thing so distinctive and compelling that customers abandon their present service. That could be a tall order.
Featured
Elon Musk’s X to launch peer-to-peer funds this 12 months
By Ashley Capoot
Elon Musk’s social media platform X, previously often known as Twitter, introduced it is going to launch peer-to-peer funds this 12 months.
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