Elon Musk wants users' 'entire financial life' on X by the end of 2024
- X owner Elon Musk expects the platform to roll out financial features by end-2024, The Verge reported.
- X has been trying to obtain licenses in every US state to offer banking and money transfer services.
Elon Musk expects X to roll out financial features by the end of next year, The Verge reported on Friday.
Musk, the owner, chairman, and CTO of X — the platform formerly known as Twitter — gave his projection of the financial ambitions in an all-hands call on Thursday. The Verge obtained an audio recording of the meeting.
During the all-hands call, Musk said he wants "someone's entire financial life" on the platform so people wouldn't need a bank account. "If it involves money. It'll be on our platform — money or securities or whatever," he said.
Musk is so confident about the platform's financial ambitions that he said it would blow his mind if the company doesn't roll out the features by the deadline, per The Verge.
Musk's projected timeline for X to roll out financial services comes a year after Musk acquired Twitter for $44 billion. The billionaire — who is the world's richest person with an estimated $200 billion fortune per Bloomberg — rebranded the platform to X earlier this year.
X has been trying to obtain licenses in every US state to offer banking and money transfer services. It has received licenses in nine states so far, Insider's Kali Hays reported on Saturday.
In June last year, Musk outlined his ambitions for Twitter to become a super app like WeChat of China — where users not just use it as a social media platform but also for payments and other services. WeChat also offers functions such as video games and meeting new friends.
Musk said on the same Thursday call that X would also be a "fully fledged" dating site next year, Insider reported.
X did not immediately address a request for comment from Insider sent outside regular business hours. X's email line for the press sent the automated response, "Busy now, please check back later."