Twitter has started paperwork with the US Financial Crimes Enforcement Network (FinCEN) to launch a payments business, a new service that will give users money market access in addition to debit cards. According to Elon Musk’s statement, he wants social media platforms to offer users a money market account and many more attractive products in addition to payment facilities.
Twitter’s entire system of commercialization and filing were reportedly seen by the Tesla CEO in what he described as creators’ attempt to facilitate digital payments and enable monetization.
Musk then shared his views, stating that users paying $8 monthly for BlueTick as a payment system would be authenticated by the payment system.
He said that if you have balance in your account then you can send that balance to anyone and promise him that you will definitely give that amount to him. So that amount will be transferred digitally from your account to his account and from which he can be taken out of Twitter. This means that you will be able to enable transactions and monetization through Twitter and the creators will get another opportunity to grow their all round.
Elon Musk also said that we are currently looking at introducing the payment system and its successful implementation and efforts to use it by users or to be used globally, while in the future we will try to provide users with a money market account. And facility like debit card will have to be provided which will make their transaction even more easy and convenient.
As you know, Elon Musk himself invests in digital currency and creative cryptocurrencies like bitcoin and he is issuing new decrees for Twitter every day and his aim is to make Twitter a global advertising product And to provide social media platforms with a means to allow free expression, they are trying to make Twitter more powerful and full of modern trends and technology.
