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Trends and Insights

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15 Jan 2024

Elon Musk's Platform X to Introduce P2P Payments

Elon Musk's social media platform X plans to [introduce peer-to-peer payments]( this year, aiming to become an "everything app" for various functions including finance management. Despite lacking specific launch details, X envisions enhancing user utility and commerce opportunities. Currently, X Payments LLC holds money transmission licenses in 14 states. This move follows Musk's acquisition of the company and his vision to integrate comprehensive communication and financial services, including a feature for trading cryptocurrencies and stocks in partnership with eToro.