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X CEO confirms forthcoming in-app payment features

September 21, 2023
in Crypto Exchanges
Reading Time: 2 mins read
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Linda Yaccarino, the CEO of X (previously Twitter), revealed on Sept. 21 that the social media firm will quickly introduce fee options.

Yaccarino posted a video that described numerous upcoming options together with peer funds (“paying your buddy again for that cake”), retail funds (“snagging that new pair of sneakers”), and rewards (“incomes an earnings by being uniquely you”).

The video additionally listed a number of upcoming non-financial options associated to article sharing, picture and video content material, Areas audio, and video calls.

Hypothesis that X would possibly incorporate funds started to construct after the corporate obtained fee licenses in a number of U.S. states, primarily in July and August. Present information point out that the corporate has obtained cash transmitter and related licenses in Arizona, Georgia, Maryland, Michigan, Mississippi, Missouri, New Hampshire, and Rhode Island. Its has additionally filed purposes with the Monetary Crimes Enforcement Community (FinCEN), indicating that the corporate intends to offer fee providers all through the U.S.

No new crypto options (for now)

Although X’s new fee providers didn’t embrace any cryptocurrency-related options, earlier experiences counsel that that is nonetheless a chance.

In January, the Monetary Occasions cited two unnamed sources who detailed the event of upcoming fee options. These sources stated that Elon Musk, who had lately acquired Twitter, needed upcoming fee options to deal with fiat transfers whereas utilizing a design that might permit for eventual cryptocurrency help.

Musk was CEO of Twitter at the moment, and he presently serves as govt chair and CTO of X.

Twitter/X presently affords sure crypto-related options. The platform helps Bitcoin and Ethereum tipping between customers and permits customers to set non-fungible tokens (NFTs) as their profile image.

It has additionally partnered with Stripe to supply creator payouts in USDC to pick customers, and with eToro to offer customers with entry to inventory and crypto purchases.

The publish X CEO confirms forthcoming in-app fee options appeared first on CryptoSlate.

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