X owner Elon Musk is attempting to create a future in which X users can use the platform for their entire financial lives, according to a report from The Verge.
The plan, which Musk told his employees Thursday, is to roll out the feature in 2024. CEO Linda Yaccarino also said that it is a “full opportunity” in the next calendar year, The Verge reported.
“When I say payments, I actually mean someone’s entire financial life,” Musk said in the meeting, according to audio The Verge obtained. “If it involves money. It’ll be on our platform. Money or securities or whatever. So, it’s not just like send $20 to my friend. I’m talking about, like, you won’t need a bank account.”
X is working on securing money transmission licenses across the U.S., The Verge reported.
Musk’s desire to expand X’s financial component falls in line with his previously laid out ambition to make X “the everything app,” announced when he rebranded the platform in July.
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