Elon Musk's social media platform, X, formerly known as Twitter, is edging closer to adopting cryptocurrency payments. Twitter Payments LLC, a key component of the potential "X Coin" system, has recently acquired licenses from several states to process crypto transactions. This follows reports in January of Twitter's interest in diversifying revenue streams and introducing an "everything app" that could include fiat and later cryptocurrency payments.
Despite concerns about regulatory challenges, technology costs, and consumer trust, Musk's move into crypto payments could be seen as an attempt to revitalize the platform and stay competitive against new rivals like Meta's Threads.
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