News - Twitter receives three money transmission licenses

By Luc Vesters

Twitter receives three money transmission licenses

Twitter has received licenses to transfer money in the U.S. states of Michigan, New Hampshire and Missouri. This confirms regulatory approval. The Elon Musk-led company has applied for licenses in all 50 U.S. states. It is not yet clear what payment offers Twitter will introduce.

The so-called money transmitter license allows the platform to offer money transfer services or payment instruments for short messages. In addition, the license enables currency exchange, for example, the exchange of foreign or cryptocurrencies into U.S. dollars.

It remains to be seen whether Dogecoin (DOGE) will soon become the official Twitter currency. There has been speculation about this for a long time, also because Elon Musk fuels the discussion with regular mentions.

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