Rhode Island has formally approved a license requested by Twitter Funds LLC, X’s fee department, to have the ability to retailer, switch, and trade Bitcoin and different digital belongings on behalf of its customers.
The foreign money transmitter license is required for firms who wish to carry out these actions associated to Bitcoin and crypto on behalf of its customers. This license additionally contains associated service suppliers, comparable to wallets, fee processors, and exchanges.
Elon Musk has beforehand stated that he needs to show X into the “every thing app,” sharing that the platform “will add complete communications and the flexibility to conduct your whole monetary world.”
![Bitcoin [BTC], Gold, S&P 500 and a case of the widening correlation](https://www.blocpress.com/wp-content/uploads/2023/03/chart-1905225_1920-1000x600-120x86.jpg)
