US EditionEU says it is probing corporate structure of Musk's X months after xAI deal
- CEO Linda Yaccarino revealed that X plans to introduce a new digital payment platform called X Money in the United States in 2025, enabling users to send funds and make transactions directly through the app.
- This announcement follows Elon Musk's 2022 acquisition of Twitter, renamed X, and multiple advertiser departures due to moderation concerns that have since mostly reversed.
- X plans to enable users to invest, trade, send money, and use X-branded credit and debit cards within an emerging finance and commerce ecosystem on the platform.
- Yaccarino said, "So that's the future," referring to a platform where users can transact their whole financial life and tip creators, with Visa as the first partner.
- The expansion into financial services could reshape social media use and challenge incumbents, but X faces regulatory hurdles including licensing and anti-money laundering compliance.
76 Articles
76 Articles
According to an original report, the mobile app intelligence firm, App Sensa, has discovered intriguing references in the X application code.It seems that the app has been preparing to introduce a physical debit card that can be customized with the X user name.The app code not only mentions this customization, but also details functions such as verifying the sending status of the card, activating it, reporting it as lost or stolen, blocking it a…
New EU inquiry into Musk's X acquisition opens the door to a bigger fine
European Union regulators are scrutinizing Elon Musk’s X after the company’s $33 billion buyout by xAI. Musk’s X has already been facing a steep fine from the European Commission under the Digital Services Act, but a new request from regulators could increase the fine further. EU tech enforcers sent additional questionnaire to the corporation Thursday. This recent questioning stems from how xAI’s acquisition of X in March changes the size of the…
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