Elon Musk has said Twitter's finances are improving to the point that it could return to positive cash flow next quarter

3/9/2023

Elon Musk has said Twitter's finances are improving to the point that it could return to positive cash flow next quarter.

Recently, Twitter begun applying for regulatory licenses across the US and designing the software required to introduce payments across the social media platform, per FT.

The integration of payments aligns with comments previously made by Musk – including a desire to offer fintech services such as peer-to-peer transactions, savings accounts and debit cards – as part of a broader plan to create an “everything app” that incorporates messaging, payments and commerce.

Leading the Twitter team focused on creating the architecture needed to facilitate payments is Ester Crawford.

The company is also moving forward with regulatory checks needed before launching a payment service, the report said. In November, Twitter registered with the US Treasury as a payments processor, according to a regulatory filing.

Read more: https://unusualwhales.com/news/twitter-has-begun-applying-for-regulatory-licenses-across-the-us-and-designing-the-software-required-to-introduce-payments-across-the-social-media-platform

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