NewsletterBreaking: Elon Musk’s X Gets Money Transmitter License In Nevada For X Payments
Elon Musk’s plan to introduce payment features on X coming to fruition faster than expected as X (formerly Twitter) received a money transmitter license from Nevada. With the latest license, Nevada has become the 18th U.S. state to grant approval as the company explores offering payment features.
X Receives License in Nevada
X Payments LLC has been granted a money transmitter license to offer payment services in Nevada state by the Nevada Financial Institutions Division. Elon Musk’s X applied for money transmitter licenses in 32 states and has received 18 licenses for offering payment services on X.
Elon Musk and CEO Linda Yaccarino last year unveiled plans to introduce many features including payments/banking services, video and audio calling, dating, etc. on X platform. It is part of making the platform an “everything app” offering users as many services as possible from a single app as part of Musk’s vision of creating a more efficient and interconnected world.
X recently received a money-transmitter license from Utah after receiving similar approvals in Wyoming, Rhode Island, Michigan, New Hampshire, and Missouri. CoinGape reported that the Utah Department of Financial Institution (DFI) denied X Payments’ application to conduct related services in 2023.
Also Read: FOMC Meeting 2024 Date — What to Expect and Its Impact on Crypto Market
X Payments Launch Timeline
Despite no confirmation of when payment services will be available on X, Elon Musk expects that payment features need to go live by mid-2024. He revealed it during a recent discussion with Ark Invest CEO Cathie Wood, raising speculations about the much-needed feature on X.
Payments on X are deemed important for Dogecoin integration on X for payments. Dogecoin’s fan Elon Musk has hinted at the integration many times after taking over the social media platform in October 2022.
DOGE price is currently trading at $0.080, down 2% in the past 24 hours. The 24-hour low and high are $0.0802 and $0.0828, respectively. Furthermore, the trading volume has increased by 20% in the last 24 hours, indicating a rise in interest among traders.
Also Read: 5 Reasons Why Solana (SOL) Price Skyrocketing Daily
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- China Begins Policy Talks to Crack Down on Stablecoin and Crypto Payments
- Hyperliquid Team Moves $90M HYPE as Network Becomes Top Fee Chain
- Is Kalshi Manipulating Prediction Markets? Platform Hit With Lawsuit Over Violations
- Coinbase Submits Recommendations to CFTC on Crypto Market Rules
- 21Shares XRP ETF To Begin Trading on Monday as Institutional Inflows Hit $666 Million
- XRP Price Forms Alarming Death Cross Amid Intense Whale Dumping
- Chainlink Price Outlook as Reserve Nears 1M LINK — Bullish Shift Ahead?
- Solana Price Set for Upside as SOL Hits Record 99% Tokenized Stock Share
- Is XRP Price Gearing Up for a Rally as Reserves Collapse?
- Dogecoin Price Hovers Above $0.15 as Bulls Eye a Fresh Breakout
- Shiba Inu Price Could Rally As SHIB Burn Rate Surges 790% in 24H
