In a weblog publish yesterday describing their 2024 plans, we discovered that X will likely be launching peer-to-peer funds later this yr.
We all know that the corporate has been slowly acquiring cash transmitter licenses because it builds out its funds capabilities. However that is the primary time we’ve got heard about concrete plans to launch a funds service.
There was no element on how the service would possibly work or how it could compete with established gamers like Venmo, Money App and Zelle.
Elon Musk indicated final yr that X desires to have “the power to conduct your whole monetary world” when discussing the rebrand from Twitter to X.
I feel they are going to face an uphill battle for adoption until they will create one thing so distinctive and compelling that customers abandon their current service. That could be a tall order.
Featured
Elon Musk’s X to launch peer-to-peer funds this yr
By Ashley Capoot
Elon Musk’s social media platform X, previously generally known as Twitter, introduced it can launch peer-to-peer funds this yr.
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