Twitter Obtains Money Transmitter Licenses to Introduce X App—Could Dogecoin Serve as the Primary Currency, Influencing a Price Surge Up to $0.15? Find Out More.
Twitter Payments LLC, a subsidiary of Twitter led by Elon Musk, has obtained its first three money transmitter licenses in Michigan, Missouri, and New Hampshire. These licenses allow Twitter Payments LLC to provide transfer services or payment instruments to users. The company has applied for licenses in all U.S. states, with no specific timeline for approval. While Twitter has not revealed when it will launch its payment services or what specific services will be offered, insiders have indicated that the initial focus will be on fiat currency money transfers, with the capability to support cryptocurrency transfers in the future. There have been rumors that Twitter Payments LLC may introduce its own token called “Twitter Coin” along with a wallet. This speculation has driven positive market sentiment for Dogecoin, as Elon Musk has ties to the coin and has been advocating for it to be accepted as a payment option. The Twitter Payments initiative is part of Musk’s efforts to create additional revenue streams for the platform, alongside other changes he has introduced, such as the ability to pay for Bluetick verification and long-form tweets. Twitter is also working on a vault to securely store user data collected through the payment system. It is unclear when Twitter Payments will officially launch and what impact it will have on the cryptocurrency market.