The Blubber

Elon Musk has said that X will handle anything in your life that deals with money, "someone's entire financial life," per the Verge.

He has reportedly given a year for this goal, per the Verge.

Elon Musk, the owner of X, is endeavoring to shape a future in which X users can manage their complete financial lives through the platform, as reported by The Verge.

Musk conveyed to employees during a meeting on Thursday his intention to introduce this feature by 2024, as detailed in The Verge's report. CEO Linda Yaccarino was also quoted in the report, emphasizing that it represents a "full opportunity" within the coming year.

Musk's vision extends beyond mere payments; as he put it in The Verge's article, citing audio they obtained from the meeting: "When I say payments, I actually mean someone's entire financial life. If it involves money, it'll be on our platform. Money, securities, or anything else. So, it's not limited to just sending $20 to a friend; I'm talking about not needing a traditional bank account."

X is actively working to secure money transmission licenses throughout the United States, according to The Verge's report. The company has already obtained licenses for money transmission or money services in nine states, as documented by the Nationwide Mortgage Licensing System.

This expansion of X's financial services aligns with Musk's previously articulated ambition to transform X into "the everything app," a vision he unveiled when rebranding the platform in July.