Everything App

<ul> 
 <li>X (Twitter) obtains a currency transmitter license from Rhode Island regulators, advancing its entry into the financial services sector.</li> 
 <li>The Rhode Island license aligns with Musk’s goal of making X an “everything app,” covering crypto and fiat payments.</li> 
 <li>X’s payments system will start with fiat, but crypto capabilities will be added later, following Musk’s directive.</li> 
</ul> 
<p>X (Twitter) has achieved a significant milestone by securing a currency transmitter license from regulators in Rhode Island. The approval enables X to engage in financial activities encompassing money transmission in traditional fiat currencies and cutting-edge cryptocurrencies.</p> 
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   <p lang="en" dir="ltr">Just In! X (the artist formerly known as Twitter) has just received a license that will let it offer crypto services to store, swap, and transfer Bitcoin and other crypto.<br><br>Elon Musk about to intro 400 million users into the market. <a href="https://t.co/hKLDC7PMdf">pic.twitter.com/hKLDC7PMdf</a></p>— Lark Davis (@TheCryptoLark) <a href="https://twitter.com/TheCryptoLark/status/1696644422199288297?ref_src=twsrc%5Etfw">August 29, 2023</a>
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<p>The Rhode Island Currency Transmitter License, officially granted on August 28, as documented by the Nationwide Multi-State Licensing System (NMLS), empowers X to handle the custody and transfer of digital currencies and facilitate their seamless exchange. This strategic move aligns closely with the overarching vision of Elon Musk, who envisions X as an “everything app” with comprehensive capabilities spanning from <a href="https://cryptonewsland.com/stripe-unveils-us-focused-fiat-to-crypto-onramp-web3/">fiat to crypto</a> payments.</p> 
<p>While insiders hint at an initial focus on fiat currency transactions akin to platforms like PayPal, Musk has actively directed X’s developers to structure the payments system in a manner that seamlessly accommodates the integration of cryptocurrencies down the line. This indicates a forward-looking approach that mirrors Musk’s earlier innovations and adaptability to market trends.</p> 
<p>X’s pursuit of financial licenses hasn’t been limited to Rhode Island; the company had previously secured money transmitter licenses in states including Michigan, Missouri, and New Hampshire. This latest addition brings the tally to seven American states where X holds transmitter licenses, underscoring the company’s proactive strides within the regulatory landscape.</p> 
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<p>By laying the groundwork for both fiat and crypto transactions, X seems poised to redefine the landscape of digital payments. The question on many minds is, will it have an effect on the <a href="https://cryptonewsland.com/dogecoin-price-prediction/">DOGE price surge</a>? This move furthers Elon Musk’s visionary journey toward an all-inclusive digital ecosystem.</p> 
<h4 class="wp-block-heading" id="h-read-also">Read also:</h4> 
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 <li><a href="https://cryptonewsland.com/will-doge-dominate-elon-musks-everything-app-x/">Will DOGE Dominate Elon Musk’s Everything App ‘X’?</a></li>
 <li><a href="https://cryptonewsland.com/dogecoin-makes-sudden-pump-with-x-app-integration-speculation/">Dogecoin Makes Sudden Pump With X App Integration Speculation</a></li>
 <li><a href="https://cryptonewsland.com/mangata-x-wins-parachain-slot-will-board-kusama-soon/">Mangata X Wins Parachain Slot, Will Board Kusama Soon</a></li>
 <li><a href="https://cryptonewsland.com/elon-musk-hints-at-crypto-payments-for-x-algorands-algo-emerges-as-potential-choice/">Elon Musk Hints at Crypto Payments for X; Algorand’s Algo Emerges as Potential Choice</a></li>
</ul> 
<p>The post <a rel="nofollow" href="https://cryptonewsland.com/doge-price-surge-what-xs-new-crypto-payment-license-means-for-elon-musks-all-in-one-app/">DOGE Price Surge? What X’s New Crypto Payment License Means for Elon Musk’s All-in-One App</a> appeared first on <a rel="nofollow" href="https://cryptonewsland.com">Crypto News Land</a>.</p>

DOGE Price Surge? What X’s New Crypto Payment License Means for Elon Musk’s All-in-One App

Crypto News Land

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