30 Aug 2023

BREAKING; Elon Musk’s X (Twitter) obtains license for Bitcoin and €crypto services to store, transfer, and exchange digital assets on behalf of its users

Elon Musk has decided to make X (formerly Twitter) an “everything app” with multiple functionalities, including a payment hub processor integrated with the microblogging social network and other tools from the building ecosystem. Musk already stated that X is a “DOGE-friendly place”. Part of the work of becoming a payment hub, or a cryptocurrency-friendly place, in the United States lies in obtaining the required licenses to operate such a business legally. Elon Musk’s company has been gradually doing that in different states but mostly focused on fiat payments under the “Money Transmitter License.” In particular, this license will enable X to store, transfer, and exchange digital assets on behalf of its users. Source: Finbold, Bitcoin Archive


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