Elon Musk’s social media venture, previously known as Twitter and now named X, has secured a license to offer cryptocurrency wallet services in the US. The platform was granted the Currency Transmission License in Rhode Island, as per a recent document.
With plans to introduce a crypto wallet, Musk is set to broaden X’s horizon in the crypto-financial sphere. This is in addition to his previously announced vision for 2023 to integrate a financial market system within the platform, unveiled during the transition from Twitter to X.
In related news, CoinBrit had earlier highlighted that PayPal introduced its own stablecoin named PYUSD. There were rumors suggesting the possibility of this U.S. dollar-backed stablecoin being integrated into X’s payment system.