Twitter Granted 3 Money Transmitter Licenses: What This Means for US Payment Services

Big news from the world of social media and finance! Twitter Payments LLC, Twitter’s subsidiary company, has taken a significant step towards expanding its services. According to Nationwide Multistate Licensing, Twitter Payments LLC, a subsidiary of Elon Musk’s Twitter social network, appears to have received its first money transmitter licenses.

Twitter's Payment Expansion Begins

This move signals Twitter's intent to offer more than just social networking, potentially venturing into US payment services. The details from the NMLS consumer access document confirm that the social media giant has been granted three money transmitter licenses. The first license is in Michigan.

Which States Have Approved Twitter?

Michigan, New Hampshire, and Missouri have approved Twitter's application to serve as a money transmitter, laying the groundwork for the social media app to expand into this arena. Specifically, New Hampshire, Michigan, and Missouri have granted money transmitter licenses to Twitter Payments LLC.

What's Next for Twitter Payments?

While this is a major development, it's important to note that 47 U.S. states are yet to weigh in. This initial approval in three states is just the beginning, and it will be interesting to see how Twitter leverages these licenses to offer new and innovative payment solutions within its platform. Keep checking back for updates as Twitter continues to navigate the regulatory landscape and expands its payment service offerings.