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C.E.O. of Tesla, C.E.O. of SpaceX and C.T.O. of X Elon Musk speaks for the duration of the New York Occasions yearly DealBook summit on November 29, 2023 in New York Metropolis.
Michael M. Santiago | Getty Pictures
Elon Musk’s social media system X, previously regarded as Twitter, introduced it will launch peer-to-peer payments this calendar year, in accordance to a Tuesday web site put up.
X claimed the payments will unlock “a lot more user utility and possibilities for commerce” as the system operates to “revolutionize 2024.” The blog post did not supply certain particulars about how the payments will operate or when they will formally launch.
Introducing peer-to-peer commerce to the system would mark the most current sweeping modify at X because Musk acquired the organization for $44 billion in late 2022. Musk, who is also the CEO of Tesla and SpaceX, has been pushing to transform X into an “all the things application” exactly where people can have out a selection of features from publishing to handling finances.
In a write-up on X in July, Musk explained the organization planned to increase “extensive communications and the potential to conduct your total fiscal environment.” Months previously, X introduced a attribute in partnership with eToro, a social investing organization, that makes it possible for end users to obtain cryptocurrencies, shares and other sorts of economic property.
The organization stated it will also introduce more initial material and expertise, continue to commit in creators and content material partnerships and strengthen adverts this calendar year, according to the Tuesday website article.
“X is not just yet another app – it truly is becoming the almost everything application, seamlessly uniting encounters into a person interface, for anyone,” the enterprise wrote.
X did not straight away answer to CNBC’s ask for for comment.
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