X (Twitter) has obtained a currency transmitter license from Rhode Island’s regulators, which will enable the company to offer financial services related to sending and receiving money.
The license covers both fiat and crypto assets, which means X can store, transfer and exchange digital currencies on behalf of its users.
The Nationwide Multi-State Licensing System (NMLS) shows that X’s Rhode Island Currency Transmitter License was approved on Aug. 28.
This is a significant milestone for Elon Musk’s vision of making X an “everything app” that includes both crypto and fiat payments.