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- Elon Musk is realizing his vision of making the ‘everything app’ for his X platform (formerly Twitter).
- X has received a transmitter license in Michigan, New Hampshire, and Missouri, and in the latest development, Mississippi.
Elon Musk’s X has received a transmitter license in Mississippi. So far, X (formerly Twitter) has received the license in Michigan, New Hampshire, and Missouri. The social media platform is currently developing software that will enable payments on the platform as it fulfills Musk’s vision of being an everything app. With the recently acquired licenses, the platform is permitted to enter the payment business in the state.
Elon Musk has recently revealed his 22-year plan to transform X from its original Twitter format. Musk wants to build a comprehensive platform for payments and financial services that will ultimately be the most valuable financial institution globally.
The grand vision of X traces back to PayPal which was founded by Elon Musk. After selling to eBay in 2002 for upwards of $175 million, he moved on to Tesla and SpaceX, failing to realize his vision of building a robust payment infrastructure.
Elon Musk has recently stepped down as CEO after taking charge following his $44 billion acquisition earlier in the year. Linda Yaccarino took charge of the platform in June after serving as chairman of global advertising & partnerships for NBCUniversal. However, Musk has continued to be vocal about the steps being taken to make X into what he envisions.
According to what Musk has described, experts believe the billionaire is trying to emulate WeChat – a Chinese instant messaging, social media, and mobile payment app.
After the latest license acquisition, X now boasts of 8 approved licenses in the U.S. These include Arizona: Money Transmitter License, Georgia: Money Transmitter License, Maryland: Money Transmitter License, Michigan: Money Transmitter License, New Hampshire: Money Transmitter License, Missouri: Sale of Checks and Money Transmitter License, Rhode Island: Currency Transmitter and now Mississippi: Money Transmitter License.
Dogecoin (DOGE) Integration on X
Elon Musk is a big fan of cryptocurrencies and Dogecoin (DOGE) in particular. In fact, the world’s richest man regards himself as the Dogefather. Dogecoin is already integrated into his American multinational automotive and clean energy company, Tesla. Holders can buy various merchandise on the Tesla website using DOGE.
In an interview back in 2022, he branded the coin the people’s crypto;
They aren’t financial experts or Silicon Valley technologists. That’s why I decided to support Doge – it felt like the people’s crypto.
This has led to speculation that the cryptocurrency will be integrated into X as one of the payment options for the everything app. This would massively boost DOGE’s utility and adoption to millions of users. In the long run, it will propel the memecoin to new all-time highs.
At the time of press, DOGE is exchanging for $0.063 after a marginal change of less than 1 percent in the last 24 hours. Moving sideways for the last couple of weeks, experts expect a dramatic move in either direction soon.
