For years, entrepreneur Elon Musk has touted Dogecoin and other cryptocurrencies. He has involved them in other companies, such as allowing DOGE payments for Tesla merchandise, but most of these uses have been on smaller scales. However, recent approval for numerous licenses could point towards larger plans for DOGE in the future.
On March 20, 2024, X Payments LLC, the arm of X responsible for driving the peer-to-peer payment business, secured three more licenses for money transmitter activities. The three states providing approval were New Mexico, Oregon, and Illinois, bringing the total number of approved states to 22. The licenses are required for sending and holding customer funds, similar to how PayPal, Venmo and Cash App work.
Adding three new states to the list of approvals is positive for the company. With nearly half of the U.S. states willing to allow X to transmit money, there is somewhat of a precedent that could make it easier for others to provide licenses and bring X...
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