Shortly after acquiring the company, Elon Musk also talked about the possibility of offering other financial services such as debit cards and bank accounts.
Twitter has begun to apply for licenses in the United States to launch a possible payment system and plans to include cryptocurrencies in the future, the Financial Times (FT) announced on Monday. According to this economic newspaper, which cites anonymous sources, the company led by Elon Musk is also already preparing the necessary software to carry out money transactions through the social network.
In November 2022, shortly after taking control of the company, Musk talked about his plans to launch a payment system through the platform and the possibility of offering other financial services such as debit cards and bank accounts. .
The tycoon thus confirmed his intention to turn Twitter into a kind of “app for everything” in the style of China’s WeChat, which offers messaging, payments and purchases, among other things. Musk said he envisioned subscribers to the Twitter Blue payment service being able to have the option to send money to someone else on Twitter and link their bank account to the social network.
The next step, he assured, could be to offer bank accounts that pay high interest rates and later debit cards or checks could be incorporated, for example.
Some technology companies such as Apple already offer savings accounts, as do companies specialized in digital payments such as PayPal. Musk has significant experience in this area, as he was a co-founder of X.com, one of the first digital financial platforms that later became part of PayPal.
According to information from the FT, this payment system is expected to initially work with traditional currencies, but that, in the future, it may also include cryptocurrencies, news that today caused the price of some of these assets to rise momentarily, such as Dogecoin.
With information from EFE.
Source: Larepublica
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