X Receives Currency Transmitter License in Rhode Island
Rhode Island’s regulators have granted X (Twitter) a currency transmitter license, allowing the company to custody, transfer, and exchange digital currencies. This marks a significant step forward in Elon Musk’s vision for X to become an ‘everything app’ that includes both crypto and fiat payments. While initially supporting fiat currencies, X’s platform is being built to accommodate future crypto functionality. With this latest license, X has now secured transmitter licenses in seven American states. The specific financial offerings that X will provide with its payment features are yet to be announced.
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