HARRISBURG, Penn.—The social media platform X, formerly known as Twitter, has been approved for payments services from Pennsylvania.
According to FinExtra, the move marks X owner Elon Musk’s ambitions of transforming X into an “everything app” where users can conduct their “entire financial life” on the app.
Musk has experience in payments and money transfer services, having co-founded PayPal earlier in his career.
“This development permits X to facilitate money transfer in the same way that other payments systems such as PayPal’s Venmo can,” Finextra said.
Additional Licenses
TechCrunch confirmed earlier this year that the company has also been granted licenses for payments in South Dakota, Kansas and Wyoming. X also registered in Iowa and Mississippi in September; Georgia, Maryland and Rhode Island in August; Arizona, Michigan and Missouri in July; and New Hampshire at the end of June 2023.
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