Social media giant X, formerly known as Twitter, has claimed that it is going to peer-to-peer payments (P2P) this year.
According to Finextra, the San Francisco-based company searched for payment processing licenses for the better part of 2023 before receiving authorization in 13 states. “2023 was foundational for X, and 2024 will be transformational,” the company wrote in a blog post. Peer-to-peer payments will be made available, increasing user utility and opening new business prospects.
Musk made audacious statements about X’s future and its role in its users’ financial lives as recently as October. He told employees that he envisions X as the financial universe’s hub, in charge of all monetary aspects. Musk further predicts that these features could be fully implemented by the end of 2024.