Elon Musk: X (Twitter) will launch financial services next year

You won’t be needing any physical bank account by next year. According to foreign media The Verge, billionaire Elon Musk announced during an all-staff conference call on Thursday local time that the X platform (formerly Twitter) will be launched by the end of 2024 Financial Services. Musk said: ” You don’t need a bank account… If we don’t launch this service by the end of next year, I will be surprised !”

According to the report, Company X is currently working to obtain a nationwide money transfer license in order to provide financial services. Musk told employees on the call that he hopes to obtain additional licenses required by Company X “within the next few months . “

Musk has discussed plans to build Send money anywhere. This time, Musk said this:

When I say payments, I’m really talking about someone’s entire financial life. If (something or something) has to do with money, then it’s going to be on our platform, whether it’s money, or securities, or whatever. What I need to say is that you don’t need a bank account.

This move marks a further step in Musk’s ultimate goal of creating a “super app”. Comprehensive IT House previously reported that after Musk acquired Twitter, he considered turning the social media platform Twitter into a super application like WeChat.

In August this year, X Platform CEO Linda Jacquelino predicted that X Platform would launch audio and video calling functions. She added, “Musk does believe in vertical integration, and Twitter would be a great example of vertical integration.”

As early as the first half of last year, Musk had already talked about his love for the WeChat model in a podcast: “It’s a bit like a combination of Twitter, PayPal and a lot of other things, using a great interface. It brings them all together.” ” It’s a really great app.