Rhode Island has officially approved a license requested by Twitter Payments LLC, X’s payment branch, to be able to store, transfer, and exchange Bitcoin and other digital assets on behalf of its users.

The currency transmitter license is required for companies who want to perform these activities related to Bitcoin and crypto on behalf of its users. This license also includes related service providers, such as wallets, payment processors, and exchanges.

Elon Musk has previously stated that he wants to turn X into the “everything app,” sharing that the platform “will add comprehensive communications and the ability to conduct your entire financial world.”

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