Elon Musk’s X Obtains License To Enable U.S. Crypto Payments

The popular social media platform X, formerly known as Twitter, has lined up its ducks to enable cryptocurrency payments through its platform.

X acquired a Rhode Island Currency Transmitter License on August 28, according to NMLS data. With this authorization, X may store, transfer, or exchange digital assets within its platform, as well as maintain those assets on behalf of others. X is now well-positioned to introduce crypto payment services to its nearly 450M active users.

This is just the latest in a series of moves the platform has made since billionaire Elon Musk finalized a takeover of the platform last October.

The social media network has enabled crypto integrations in past years.

In 2021, X, known at the time as Twitter, made it possible for users to receive tips in Bitcoin. The platform also integrated NFTs in 2022, enabling those with a paid subscription to verify their ownership of an NFT, distinguishable by a hexagonal profile picture.