Key Takeaways
- Elon Musk announced X’s ambition to become a financial platform by mid‑2024.
- The rollout hinges on securing money transfer licenses in key states like California and New York.
- Musk envisions users managing their entire financial world through the X ecosystem.
Washington: Billionaire entrepreneur Elon Musk said that social media platform X intends to begin service as a financial platform by mid-2024, pending approval of licenses.
“We’re just waiting for the final approvals to come through for the money transfer licenses,” Musk said on Thursday during a live conversation via X.
“I think we’ll probably get our approvals early next year… I would be surprised if it takes us longer than the middle of next year to roll out payments.”
The platform obtained licenses in a majority of states, but the effort is “irrelevant” until California and New York approve licenses, Musk said.
In July, Musk said that users would be able to conduct their “entire financial world” through X.
