By the end of next year, Elon Musk anticipates that X will launch financial functionality, according to a Friday report.
X’s owner, chairman, and chief technology officer, Elon Musk, provided a financial outlook on an all-hands call on Thursday. X was formerly known as Twitter. The meeting was audio recorded and made available to The Verge.
Musk stated during the all-hands call that he wants “someone’s entire financial life” to be accessible on the platform, negating the need for bank accounts. “If it involves money. It’ll be on our platform — money or securities or whatever,” he declared.
According to report, Musk expressed great confidence in the platform’s financial potential, saying he would be shocked if the business didn’t release the features by the deadline.
Musk stated that X will launch financial services in a year, one year after Musk paid $44 billion to acquire Twitter. The platform was rebranded to X earlier this year by the billionaire, who according to report is the richest person in the world with an estimated $200 billion fortune.
X has been attempting to get banking and money transfer licences in every US state. According to Kali Hays of Insider, it has been granted licences in nine states thus far on Saturday.
Musk stated in June of last year his plans for Twitter to develop into a super app akin to China’s WeChat, where users utilise it for more than just social networking and can make payments and access other services. Other features on WeChat include playing games and making new friends.
Insider said that Musk stated during the same Thursday call that X would become a “fully fledged” dating platform by the following year.
An inquiry for response from Insider received after regular business hours was not immediately answered by X. Press contact X’s automated response was, “Busy now, please check back later.”
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