Since the acquisition, Elon Musk has made no secret of his ambition: to make Twitter a complete application. The project is progressing rapidly. The proof, Twitter has just filed American licenses aimed at integrating payment functionalities on its platform. If all goes well, it will then become a payment platform in its own right.
Twitter, soon to be a major player in the payments industry
Elon Musk’s acquisition of Twitter has raised countless questions. Some analysts wondered, for example, whether this platform will offer financial services. The answer is yes.
According to the Financial Times, Twitter has just filed an application for a regulatory license in the United States. The goal of this approach: to integrate payment functionalities on the platform. That’s not all ! In November 2022, it also registered with the US Treasury as a payment processor.
Still in this same vein, Esther Crawford is gradually putting in place the architecture necessary to facilitate payments on Twitter. With his team, the new rising figure of the blue bird designs a safe to store and protect user data. They will be collected by the system once the payment service has been launched.
An all-in-one platform!
Everyone knows it very well, Elon Musk has big visions for Twitter. On many occasions, he expressed his wish to offer various services via the platform. Peer-to-peer transactions, savings accounts and debit cards are among them. In one of his speeches, he even mentioned reproducing the usefulness of the Chinese WeChat.
In Elon Musk’s imagination, Twitter would therefore be more than just a social network. It would become an all-in-one platform with various features that would allow users to easily navigate from one service to another.
Elon Musk and his team will not hesitate to deploy all the necessary resources to make Twitter a complete application. It remains to be seen whether this platform will stand up to the competition for long. Not to mention the various regulatory controls that such a project entails.
Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of daily and weekly so you don’t miss any of the essential Tremplin.io!
