TECH - 'If It Involves Money It'll Be On Our Platform': Elon Musk Wants X To Replace Your Bank In One Year | Benzinga
In a recent development, Elon Musk has made a daring prediction about the future of financial institutions. He believes that X is set to revolutionize the industry and could potentially replace traditional banks by 2024.
What Happened: In an internal communication with X employees, Elon Musk laid out his ambitious plans for the company. According to a report by The Verge, Musk envisions X morphing into a comprehensive financial hub, eliminating the need for traditional banks.
"If it involves money. It'll be on our platform. Money or securities or whatever. So, it's not just like send $20 to my friend. I'm talking about, like, you won't need a bank account,” Musk reportedly said.
Linda Yaccarino, CEO of X, agrees with Musk’s ambitious projection. The company is actively pursuing money transmission licenses throughout the United States ...