Social media giant X (previously Twitter) has obtained the Rhode Island Currency Transmitter License, allowing it to provide crypto payment and trading services in the US. This aligns with Elon Musk’s vision to turn the platform into a comprehensive app, alongside previous steps like Bitcoin tipping and NFT profile picture support.
In a significant change to the way things work, a major social media company known as X has been given permission to use the Rhode Island Currency Transmitter License. This license, as seen on the Nationwide Multistate Licensing System & Registry (NMLS), is really important for any company that wants to help people in the US use digital money.
It makes it legal for them to keep, move, and trade cryptocurrencies. This includes a lot of different crypto services like exchanges, wallets, and payment processors.
https://twitter.com/CollinBrownBTC/status/1696621241874948207?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1696621241874948207%7Ctwgr%5E3159933d8b2692bc42b083ca6f1924786c902a9d%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.ethnews.com%2Ftwitter-licenses-secure-elon-musks-move-to-integrate-crypto-payments-with-dogecoin-is-doge-poised-to-be-platforms-native-currency-comprehensive-report%2F
Elon Musk’s Vision for an “Everything App”
Since Elon Musk took over, the platform has been changing a lot. It’s working to become an app that does many different things. This new permission they got from Rhode Island fits perfectly with their goal. This license lets X legally do lots of things with digital money, which makes them even stronger in the crypto world. They had already been moving toward crypto by adding things like Bitcoin tipping and letting people use NFTs as profile pictures.
Now that they have this license, X is getting closer to fully using crypto for payments. We don’t know all the details about what they’ll do yet, but it’s clear that this could bring a new time for both X and people who use crypto. This license makes it possible for millions of X users to use digital money in their daily lives, not just for small things but for bigger social and money activities.
Even though this license is a big deal, X hasn’t told us exactly which digital money they will support. But because Elon Musk likes Dogecoin, people are guessing that it could become one of the main currencies they use. Right now, everyone’s waiting to see what X will tell us next about their crypto services. This makes X a big part of how digital money is becoming a bigger part of normal platforms.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
Join Cryptos Headlines Community
Follow Cryptos Headlines on Google News
