Elon Musk's X, formerly Twitter, has partnered with Visa to launch a new financial service called 'X Money Account'. This will allow users to move funds between traditional bank accounts and digital wallets, and make instant peer-to-peer payments. This marks X's first concrete step towards building a financial ecosystem on the platform.
Elon Musk's X said it has struck a deal with Visa , the largest U.S. credit card network, to be the first partner for what it is calling the X Money Account.
X struck a deal with Visa, the largest U.S. credit card network, to be the first partner for what it is calling the X Money Account, CEO Linda Yaccarino announced in a post on the platform.She said Visa will enable X users to move funds between traditional bank accounts and their digital wallet and make instant peer-to-peer payments, like with
But attaining status as a money service business in the U.S. required navigating a far more complex regulatory landscape.The X Money service is expected to launch in the first quarter, and deals with more financial partners are likely, according to a person with knowledge of the situation.
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