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Elon Musk’s X, obtains Money Transmitter License in 10 states



X, has  successfully obtained a money transmitter license spanning an impressive ten states within the United States. 

With an impressive presence in multiple states including Arizona, Georgia, Iowa, Maryland, Michigan, Mississippi, Missouri, New Hampshire, Rhode Island, and South Dakota, X is now poised to operate as a fully licensed money service business. 

This will enable X to seamlessly facilitate cross-border money transfers within these states, solidifying its position as a trusted provider in the financial industry. 

The acquisition of the money transmitter license marks a crucial milestone in this journey, opening avenues for expanded financial services and potentially setting the stage for future cryptocurrency integration on the platform. 

This remarkable achievement serves as a pivotal milestone in Elon Musk’s grand vision of revolutionizing the platform into an all-encompassing “everything app”

Recently, the renowned entrepreneur Elon Musk has made it clear that his companies, including X, have no intentions of launching their own cryptocurrency tokens. 

However, the acquisition of a money transmitter license has sparked intriguing speculation regarding potential cryptocurrency integration on the platform.

This achievement will open up varieties of exciting opportunities for X and its users, enabling them to engage in a diverse array of financial activities, inclusive of the highly sought-after cross-border money transfers and may propel X to new heights of success and cementing their position as a formidable player in the industry.  

Read also: Securing Web3 SEC CEO discusses how Generative AI for Blockchain Security

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