Nevada

X Payments

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/expanding-horizons-x-payments-secures-nevada-license-for-money-transmission" rel="noopener noreferrer nofollow">Expanding Horizons: X Payments Secures Nevada License for Money Transmission</a><br></p>
<p style="text-align: justify">Elon Musk’s X, previously known as Twitter, is advancing its payment feature capabilities with the acquisition of a money transmitter license from Nevada. This makes it the 18th state in the US to endorse the company’s payment services amidst its ongoing development.</p>
<h2 style="text-align: justify" id="licensing-milestone-achieved">Licensing Milestone Achieved</h2>
<p style="text-align: justify">The Nevada Financial Institutions Division has awarded X Payments LLC a money transmitter license, enabling it to offer payment solutions within Nevada. Musk’s pursuit of money transmitter licenses across 32 states has thus far resulted in 18 successful approvals.</p>
<p style="text-align: justify">Last year, significant updates were announced by Musk and CEO Linda Yaccarino, including the introduction of payment and banking services, as well as communication and social features, on the X platform.</p>
<p style="text-align: justify">Musk’s vision of transforming X into a superapp is evident, aiming to consolidate a multitude of services into a single, efficient application.</p>
<p style="text-align: justify">X’s approval list is growing, with recent license acquisitions in states like Wyoming, Rhode Island, Michigan, New Hampshire, Missouri, and Utah, the latter of which had initially rejected X Payments in 2023.</p>
<h2 style="text-align: justify" id="prospects-for-x-payment-services">Prospects for X Payment Services</h2>
<p style="text-align: justify">While no definitive launch date is set for X’s payment systems, Musk hints at a potential rollout by mid-2024. This was disclosed during a conversation with Ark Invest CEO Cathie Wood, stirring excitement for the anticipated features.</p>
<p style="text-align: justify">The upcoming payment system is crucial for cryptocurrency integration, particularly for <a href="https://en.bitcoinhaber.net/technical-analysis-of-dogecoin-detailed-price-analysis-and-key-support-resistance-levels" rel="noopener noreferrer nofollow">Dogecoin</a>, which Musk has frequently supported. Meanwhile, Dogecoin’s market activity has seen a slight decline, with a 30% drop in trading volume over the past day.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/expanding-horizons-x-payments-secures-nevada-license-for-money-transmission" rel="noopener noreferrer nofollow">Expanding Horizons: X Payments Secures Nevada License for Money Transmission</a></h5>

Expanding Horizons: X Payments Secures Nevada License for Money Transmission

Table of Contents

BH NEWS

Other articles published on Jan 30, 2024

Fidelity’s Spot Bitcoin ETF gathers $208M in daily inflows, outpacing Grayscale Bitcoin Trust

Richard Heart Compares Bitcoin’s Long-Term Performance to His Shitcoins Again

The Future of Bitcoin: Price Predictions and Market Dynamics

XRP Surpasses Key Price Milestone Amid Ripple's Strategic Transactions

Protocol Labs and Chainlink Join Forces to Accelerate Startup Innovation in Web3

$5B flight from GBTC likely led to outflows in other regions — CoinShares

Join our free newsletter for daily crypto updates!