Elon Musk promised a serious revolution by buying Twitter last October. If some changes, such as Twitter Blue subscription price increasestunned the Twittos, the marriage of the blue bird social network with cryptocurrencies made people happy. According to the latest news, the company has developed money transfer services.
Twitter embarks on money transfer
Thing promised, thing due. Elon Musk promised sweeping changes dubbed Twitter 2.0, and it’s now done. The limit on access to messages imposed by users was perhaps a taste (a little bitter, anyway) of the good news ahead.
According to Cointelegraph, Twitter has recently released news that can calm the storms.
” NEWS: Twitter has finally obtained its first funds transmitter licenses in several US states. »
So, Twitter Payments LLC was awarded with money transmitter licenses in 3 states : Missouri, Michigan and New Hampshire. It only has to wait for the approval of the 47 other American states in order to cover the country as a whole.
” Here’s the New Hampshire license that was granted a few days ago. »
Twitter hatches great projects
According to T(w)itter Daily News, Elon Musk expects this payment platform to become active by the end of the year. Its deployment will accelerate once the 50 American licenses are completed and after the other countries have decided to adopt it.
” Elon: We want to quickly improve the Twitter product, especially on the video side. There are ‘lots of great things’ in the works, including payments ‘maybe later this year’.
DM enhancements are also planned, such as full encryption, video and voice calls. »
This confirms Walter Isaacson’s assumptions in fact. In mid-June, Musk’s biographer spoke of possible plans to ” micropayments on Twitter for content from creators, as an additional option to subscriptions » in full preparation.
The recent meeting between Tim Cook and Elon Musk would also aim to establish an agreement on in-app purchases at Apple, he says.
A fund transmitter license, quèsaco?
A money transmitter license is not equal to a sales license which boils down to the consumer protection in the purchase of products and services. The first variant normally extends to the transfer silver (and even bitcoin or ether) between two actors.
Otherwise, you will find in the image below a rather succinct definition of the ” remittance “.
As for the extent of currencies used on Twitter Payments, Elon Musk and Linda Yaccarino (new CEO) seem to be not very talkative on the subject. But many hope that the platform will open to cryptocurrenciesas PayPal and Stripe already do.
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