X Moves Ahead towards “Everything App” Dream: Gains Utah Money Transmitter License

<p dir="ltr">Elon Musk’s social media platform X (formerly known as Twitter) has taken another step towards becoming an “everything app” by securing a money-transmitter license from Utah. It was the fifteenth state license for the platform in the United States.</p><p dir="ltr">X’s Move Towards Payments</p><p dir="ltr">According to the Nationwide Multistate Licensing System &amp; Registry, the state of Utah granted the license to X last week on Friday. However, the company did not officially announce its payment ambitions.</p><p dir="ltr">Despite the unofficial murmurs, X’s ambitions towards payments were confirmed last year in June when it received the first state money-transmitter license in New Hampshire. Consecutively, the platform obtained such approvals from Pennsylvania, Arizona, Georgia, Maryland, Michigan, and several other states.</p><p dir="ltr">The <a href="https://www.financemagnates.com/cryptocurrency/from-tweets-to-transactions-x-moves-closer-to-crypto-and-fiat-payments/">money-transmitter licenses</a> now allow the social media platform to facilitate money transfers. A few state licenses obtained by X also enable it to facilitate cryptocurrency payments and provide transfer, custody, and exchange services for digital assets through its platform.</p><blockquote><p lang="en" dir="ltr">JUST IN: X has received a money transmitter license for payment services in