{"id":13840,"date":"2023-10-29T06:59:17","date_gmt":"2023-10-29T06:59:17","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=13840"},"modified":"2023-10-29T06:59:20","modified_gmt":"2023-10-29T06:59:20","slug":"elon-musk-says-x-payments-will-eliminate-need-for-bank-account-by-end-of-2024","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=13840","title":{"rendered":"Elon Musk says X payments will eliminate need for bank account by end of 2024"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Twitter\/X owner Elon Musk revealed new details of his planned payment services during an all-hands staff meeting, as reported by The Verge on Oct. 26.<\/p>\n<p>Musk said the new feature will cover almost all areas of finance, stating:<\/p>\n<p>\u201cWhen I say payments, I actually mean someone\u2019s entire financial life. If it involves money, It\u2019ll be on our platform. Money or securities or whatever. So, it\u2019s not just like send $20 to my friend. I\u2019m talking about, like, you won\u2019t need a bank account.\u201d<\/p>\n<p>Though Musk suggested that X will cover almost all areas of finance, he did not state that it will integrate new cryptocurrency features. However, the app already includes certain crypto features, such as Bitcoin and Ethereum tipping and NFT profile picture support.<\/p>\n<p>Musk otherwise said that the company is waiting on approvals for its payment features and said that this process should be complete in the coming months. X secured money services licenses in various U.S. states this summer, including in July and August. The company has obtained licenses in nine states, according to current data.<\/p>\n<p>Executives suggested that payment features will arrive in 2024. X CEO Linda Yaccarono suggested that the feature will become a \u201cfull opportunity\u201d by that time, while Musk said that it would \u201cblow [his] mind\u201d if it is not introduced by the end of next year.<\/p>\n<h2>Musk has greater ambitions for X<\/h2>\n<p>Elsewhere on the call, Musk noted that his company is \u201crapidly transforming\u201d what was once Twitter into an everything app. He said that he intends for X to surpass China\u2019s WeChat app. That app similarly includes payment and other features alongside its social media network but does not have an equivalent outside of China.<\/p>\n<p>Musk also said that X sees \u201cmonster numbers\u201d regarding usage, including 500 million posts and 100 billion impressions per day. He also said expects creator payouts to \u201cincrease significantly\u201d and said that creator numbers have already increased ten-fold.<\/p>\n<p>Musk wants to expand X\u2019s social features to include job recruitment and dating and extend X\u2019s video features by integrating the app with TVs. He praised the platform\u2019s community fact-checking system, introduced in early October.<\/p>\n<p>The call took place on Oct. 26, 2023, roughly marking the first anniversary of Musk\u2019s acquisition of Twitter in 2022. Musk rebranded Twitter to X in July 2023.<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/elon-musk-says-x-payments-will-eliminate-need-for-bank-account-by-end-of-2024\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Twitter\/X owner Elon Musk revealed new details of his planned payment services during an all-hands staff meeting, as reported by The Verge on Oct. 26. Musk said the new feature will cover almost all areas of finance, stating: \u201cWhen I say payments, I actually mean someone\u2019s entire financial life. If it involves money, It\u2019ll be [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13841,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-13840","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13840","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13840"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13840\/revisions"}],"predecessor-version":[{"id":13842,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13840\/revisions\/13842"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/13841"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}