A year after our team took charge of Twitter, we are excited to announce some major changes coming your way! We are on a mission to transform Twitter into X, an all-in-one app that will revolutionize your financial world.
During a recent all-hands call with X employees, our CEO Elon Musk shared his vision for X. He expressed his belief that X will become the center of your financial life, handling all money-related matters with incredible power.
According to an audio recording of the meeting, Musk explained, “When I say payments, I actually mean someone’s entire financial life. If it involves money, it’ll be on our platform—money, securities, or whatever. So, it’s not just like sending $20 to my friend. I’m talking about, like, you won’t need a bank account.”
In essence, X is not just about simple money transfers. It will extend to include loans, debit cards, savings, and global money transfers, rendering traditional bank accounts obsolete.
X CEO Linda Yaccarino shares our optimism, envisioning this transformation as a complete opportunity by 2024. Musk added, “It would blow my mind if we don’t have that rolled out by the end of next year.”
We are actively obtaining money transmission licenses across the US to ensure the successful implementation of this financial evolution. Progress has already been made in some states.
Musk has previously shared his vision of turning X into a financial hub. As part of this vision, he renamed Twitter as X.com, which originated as an online bank during the dot-com boom and later became part of PayPal.
With X, we aim to offer a wide range of financial services including high-yield money market accounts, debit cards, checks, and loan services. Our ultimate goal is to enable users to send money anywhere in the world instantly and in real-time.
This transformation aligns with Musk’s broader ambition of making X an “everything app,” similar to super apps like WeChat in China that provide access to shopping, transportation, and more.