Twitter got licenses to implement payments in three U.S. states

Twitter got licenses to implement payments in three U.S. states

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Author: Robert Strickland (crypto-journalist)
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Twitter got licenses to implement payments in three U.S. states

The platform has taken another step in implementing Ilon Musk's strategy to turn Twitter into an "app for everything."

Twitter Payments LLC, a subsidiary of the media holding company, has been licensed to transfer payments in three U.S. states.

The application was approved by regulators in Michigan, New Hampshire and Missouri. As a result, the platform is one step closer to implementing Ilon Musk's global strategy to make Twitter an "app for everything."

The company has now been authorized to provide payment services, making its functionality similar to services such as PayPal.

Twitter submitted a request to FinCEN for a money services license (MSB) as early as last November, right after Musk bought the holding company. The billionaire later announced his plans to turn Twitter into an "app for everything."

Musk was probably referring to the integration of payments, including in cryptocurrencies, into the interface of the social network, which he himself had repeatedly talked about. At the end of January, it was reported that Twitter was already developing an embedded payment system and had begun to apply for the necessary licenses in the United States. The social network's payment system will be fiat, but built to integrate cryptocurrencies into it later. Judging by the history of Musk's statements, he really doesn't give up hope of integrating cryptocurrencies into the social network interface.

 

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