Social media company X, formerly known as Twitter, is taking serious steps towards cryptocurrency payments. According to the latest development, the company managed to obtain a license in the US state of Rhode Island. The news means new use cases for DOGE, BTC and altcoins.
Twitter (X) continues to add US licenses for DOGE, BTC and altcoin payments
The US state of Rhode Island has agreed to license Twitter’s crypto integration. This license allows the platform to provide cryptocurrency custody and exchange services for state users. According to the official announcement, Twitter now holds the Rhode Island Currency Transmission License.
It is considered that the new platform X, supported by Elon Musk, will integrate cryptocurrencies. Already, Musk gave approval for this last week. Musk, on his social media account, “X is a dog and DOGE friendly place!” he wrote. However, as quoted by Kriptokoin.com, the DOGE price remained silent on this development.
If you’re a Dog, X is the place to be. https://t.co/CBC9p3yjBP pic.twitter.com/RvGJZJHuBy
— Maye Musk (@mayemusk) August 22, 2023
Not the first for Twitter
The new platform X has also recently obtained money transfer licenses from the states of Maryland and Georgia, bringing a total of six licenses. Licenses granted to its Twitter Payments subsidiary were included in the Nationwide Multi-State Licensing System (NMLS). These licenses came in addition to previous licenses for New Hampshire, Missouri, Michigan, and Arizona.
The social media platform now has the ability to make money transfer transactions within a total of six states. This shows that X is getting closer to its goal of nationwide payment processing. Twitter changed its name to X at the end of last month. This San Francisco-based platform, which was acquired by Elon Musk in October, applies for money transfer licenses to enable users to send and receive money to every state of the USA through the application.
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