Elon Musk’s X was imagined to be a financial institution, relationship app and extra by now: Report

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Nov 04, 2024 08:04 AM IST

Elon Musk had stated in an inside X assembly final yr that it “would blow my mind” if X might additionally deal with “someone’s entire financial life” by the top of 2024

Elon Musk’s X (Previously Twitter) was imagined to have been a financial institution by now, in response to a report by The Verge.

Elon Musk’s X (Previously Twitter) was imagined to have been a financial institution by now

The purpose of X imagined to have change into a financial institution was part of his two-part targets when he purchased the social media platform in 2022, which included a purpose to show it right into a “digital town square” and a purpose to make it the “everything app,” in response to the report which added that each of this hasn’t occurred but.

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Musk had stated in an inside X assembly final yr round this time that it “would blow my mind” if X might additionally deal with “someone’s entire financial life” by the top of 2024, the report learn.

For this, X remains to be creating a Venmo-like funds characteristic, having secured cash transmitter licenses for processing funds in 38 US states which incorporates California.

Nonetheless, approval is but to return in different key states like New York.

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How does this connect with the historical past of X?

This concept in some ways mirrors the unique X.com (Now often called PayPal, the web funds service) which Musk co-founded together with Ed Ho, Harris Fricker, and Christopher Payne in 1999.

What was once Twitter now makes use of this identical area which Musk purchased again in 2022.

What are the opposite issues X was imagined to have been by now?

Other than a financial institution, X was additionally imagined to have been a relationship service, an alternative choice to LinkedIn for recruiting, and a YouTube killer as effectively, in response to the report.

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