Elon Musk announces audio, video calls on X

On Monday, X’s financial division, Twitter Payments LLC, was granted a significant currency transmitter license by the state of Rhode Island in the United States. This pivotal license empowers X to undertake cryptocurrency-related operations, encompassing exchanges, wallets, and payment processing activities, as reported by the cryptocurrency-focused website CoinWire this week.

This license equips X to securely manage the storage, transfer, and facilitation of digital asset exchanges on behalf of its users, as stated by CoinWire.

Since Elon Musk’s acquisition of Twitter in October of the previous year, the platform’s advertising sector has experienced a decline due to disapproval of his managerial approach and extensive layoffs that severely impacted content moderation.

Musk has shifted his focus toward cultivating a subscriber base and implementing a payment model to explore fresh avenues of revenue generation.

The platform’s introduction of charges for services that were formerly free, along with modifications to content moderation strategies and the revival of previously banned far-right accounts, has been met with resistance from both users and advertisers.

Musk has further made a distinctive change by replacing the iconic blue bird logo of Twitter with a white X.