Coinspeaker
Elon Musk-backed X Platform Secures Money Transmitter License from Louisiana to Enable Everything App

The vision by tech billionaire Elon Musk to build the everything app through the X platform is gradually taking shape. According to an announcement by a popular Dogecoin graphic designer alias DogeDesigner, the X platform secured a money transmitter license from the Louisiana state authority. Consequently, the X platform is now licensed as a money transmitter in 23 states including Michigan, Arizona, Wyoming, and Ohio, among others.

As Coinspeaker previously mentioned, the X platform is pacing to obtain money transmitter licenses from all respective states in a bid to remain competitive in the social networking industry.

In addition to Musk, several top X executives have highlighted that the social media platform will roll out peer-to-peer payments before the end of this year. Once rolled out, the X platform will be similar to the Chinese social media platform WeChat, which was developed by Tencent Holdings Ltd. (Hong Kong: 700).

However, Musk has severally indicated that the X platform will focus on protecting free speech above all, including the advertisers.

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