Twitter is submitting paperwork to get ready for crypto payments.
Elon Musk has stated his desire for Twitter to rival WeChat as the universal “everything app.”
Twitter will function similarly to PayPal in that it will accept payments from linked bank accounts and debit cards.
After acquiring Twitter, Elon Musk is planning to launch a payment service on the social media network, putting him in competition with PayPal.
Twitter has applied to the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) to be a money services company. Twitter Payments LLC filed its application to become a money transmitter on November 4, 2022. In its application, Twitter states its intent to offer payment services in the United States and several foreign countries.
Yep, Twitter Payments LLC registered with FinCEN a few days ago as a money transmitter. You can verify its registration on FinCEN’s search page: https://t.co/cKJ9rCpd2F pic.twitter.com/7zo8tWDdmq
— John Paul
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