X (Twitter) obtains required license for crypto payments
Elon Musk’s X obtains license for Bitcoin and crypto services to store, transfer, and exchange digital assets on behalf of its users.
Chris.P
X, the rebranded version of Twitter, has secured the Rhode Island Currency Transmitter License, a crucial regulatory approval for facilitating cryptocurrency payments and trading in the United States.
The license, granted on August 28, allows Twitter X to offer a range of virtual asset-related services on behalf of its users, including storing, transferring, and exchanging digital assets.
This development signals X's growing commitment to incorporating cryptocurrency features into its platform.
source: https://www.nmlsconsumeraccess.org/TuringTestPage.aspx?ReturnUrl=/EntityDetails.aspx/COMPANY/2404946
Under the Rhode Island license, X (Twitter) gains the authority to manage virtual currency and its associated transactions for users, making it a significant player in the crypto space.
This license category encompasses various crypto-related service providers, including cryptocurrency exchanges, wallets, and payment processors.
X has been actively exploring the world of cryptocurrencies, with recent additions like the ability to receive Bitcoin tips on the platform and the option to set NFTs (Non-Fungible Tokens) as profile pictures. These moves align with X's evolving vision under the leadership of Elon Musk, who aims to transform the platform into a comprehensive "everything app."
With its newfound licensing approval, X is poised to expand its cryptocurrency offerings, potentially introducing crypto payment features, such as ETH, BTC, DOGE or PEPE ?, to its extensive user base worldwide.
