Elon Musk envisions X will become a financial powerhouse in a year\u060c<\/p>\n
A year after Elon Musk took the reins of Twitter, changes continue to arrive like autumn leaves in a breeze. And it looks like the transformation won’t slow down any time soon. Musk is on a mission to reshape the old Twitter into X, a multi-purpose app<\/a>.<\/p>\n Apparently, Musk views X as the epicenter of your financial world, managing everything money-related in your life. He shared his expectations with X employees during a recent all-hands call, hinting that the new features would surprise people with their power.<\/p>\n Essentially, Musk wants the app to go beyond simple money transfers, expanding to loans, debit cards, savings, and global money transfers, essentially making traditional bank accounts obsolete.<\/p>\n Linda Yaccarino, CEO of X, expressed the company’s optimism, seeing this as a real opportunity by 2024. Musk added: “It would blow my mind if we didn’t implement it by the end of next year.<\/span>“.<\/p>\n To achieve this financial evolution, the company is working to obtain money transfer licenses across the United<\/a> States, and progress has already been made in some states. The platform is expected to offer a range of financial services, including high-yield money market accounts, debit cards, checking and lending services. Musk’s ultimate goal is to enable users to “send money anywhere in the world instantly and in real time<\/span>“.<\/p>\n
Musk has previously outlined his vision for turning X into a financial hub, even renaming Twitter after his dot-com boom-era online bank, X.com, which later became part of PayPal.<\/p>\n