Would You Trust Elon Musk's X With Your Finances?

Would You Trust Elon Musk's X With Your Finances?
Would you trust X with your Finances?

Hey FinTech Fanatic!

Earlier this week I shared that Elon Musk’s X now has a Money Transmitter License in 25 States in the US.

According to Christopher Stanley, the Head of Payments at X, the platform's payment capabilities will extend far beyond simple tipping. Users can soon store money in their X Wallet, send funds to other X Payments users, and even earn interest on their account holdings.

"Think Venmo at first," Stanley explained, "Then, as things evolve, you can gain interest, buy products, eventually use it to buy things in stores (think Apple Pay). "As Stanley puts it, the ultimate goal is to create a self-contained financial ecosystem within the X platform.

"The end goal is if you ever have any incentive to take money out of our system, then we have failed, you shouldn't ever need to take money out because you should be able to do anything you need on our platform," he stated.

Now over to you: Will you switch your finances from your bank to 𝕏 when 𝕏 Payments is introduced?

Let me know in the comments below👇




🚨 Goldman Sachs Asset Management is leading a €𝟭.𝟱 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 ($𝟭.𝟲 𝗯𝗶𝗹𝗹𝗶𝗼𝗻) private credit loan package for London-based card reader maker SumUp, which is looking to continue expanding globally, building on the four million businesses that already use its services. 


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