Social Media Platform X Gets Money Transfer License In Virginia

JAKARTA - Social media platform X has received approval for a license to send money in Virginia, becoming the 17th state in the United States to grant the approval, as companies owned by Elon Musk continue to seek to introduce payment features.

Virginia licenses allow X to facilitate money transfers electronically from Tuesday, January 16, according to the Nationwide Multistate Licensing System & Registry, an online database.

Musk said introducing payments would help X, formerly known as Twitter, transform into an "application of everything" with services outside social media. This includes the ability to send peer-to-peer payments.

Although X is gradually gaining approval for licenses for money senders in several states, Musk said on Monday January 15, that New York and California "are the longest time for approval."

Prior to the acquisition by Musk, Reuters previously reported that Twitter had started the process of licensing money senders, targeting countries with easier requirements before pursuing major countries such as New York and California with stricter application processes.

Countries that recently granted money sender licenses to X include Utah, Florida, Arkansas, and Pennsylvania.