X could soon receive payment licenses in New York, California: Elon Musk

Elon Musk said on Wednesday that his social media platform X could soon receive approval for a money transmitter license in New York, putting the platform a step closer to offering payment features.

While speaking at the Morgan Stanley technology, media and telecom conference, Musk also said X could receive its license in California in the next month or so, while getting the New York approval could be “a few months away”.

Since acquiring the company formerly known as Twitter in 2022, the billionaire has sought to turn it into an “everything app” like Tencent’s dominant WeChat app in China, with features beyond social media, including the ability to send money to other X users.