The post Elon Musk’s X Payments Nears Launch, Receives Another Money Transmitter License appeared on BitcoinEthereumNews.com.

X Payments by Elon Musk has reportedly received a new money transmitter license in South Carolina, as per sources familiar with the matter. X Payments’ rollout of payments on the social media platform is almost here as it received licenses in 29 states to gain approval as the company explores offering payment features this year. It’s part of the move to convert the platform into an “everything app”. X Payments Gets License in South Carolina X Payments has secured a money transmitter license in South Carolina, reported DogeDesigner, a prominent figure in X and Dogecoin communities, in an X post on June 24. He added that X has now received licenses in 29 states. The company seeks licenses in 50 US states after applying for licenses in 32 states initially. Following the latest license, X Payments’ roll out is confirmed in Arizona, Arkansas, Colorado, Florida, Georgia, Illinois, Iowa, Kansas, Kentucky, Louisiana, Maryland, Michigan, Mississippi, Missouri, Nebraska, Nevada, New Hampshire, New Mexico, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Utah, Virginia, West Virginia, Wyoming. Elon Musk earlier said he plans to launch payments service in mid-2024. The company received its previous license in Kentucky on May 10, according to X Payments LLC. CoinGape recently revealed that documents related to money transmitter licenses in multiple states revealed Venmo-like payments features for the social media platform. Moreover, X plans to charge minimal fees for its payment services. The company told regulators that its goal is to offer payments to boost its business through “increased participation and engagement” on X. It plans to get major revenue from merchant fees and banking services like checking accounts. Also Read: Crypto Market Crash: Here’s Why Bitcoin, Ethereum, XRP, SHIB Are Falling Today Dogecoin Community Eyes Announcement on Integration Dogecoin community awaits hints from Elon Musk…

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Filed under: News - @ June 24, 2024 7:26 pm