Social media giant's subsidiary signs up for financial services and may launch encryption payment features.

Recently, a subsidiary of a social media giant registered a money service business with the Financial Crimes Enforcement Network (FinCEN) in the United States. The registered entity is named Twitter Payments LLC, and according to business registration data, this company was established in August of this year in Washington State.

FinCEN, as a branch of the U.S. Department of the Treasury, is primarily responsible for overseeing the activities of money services businesses within the United States. All registered businesses are required to report any suspicious transactions to FinCEN.

It is worth noting that the submission of this sign up document coincided with the recent acquisition of the social media platform for $44 billion. The new owner has previously stated multiple times that they hope to transform the platform into a comprehensive "super app". According to reliable sources, the new owner has mentioned plans to expand the platform's range of services, including cryptocurrency payment functionality.

This move may indicate the future development direction of the social media platform and reflects the growing importance of digital payments and cryptocurrencies in the social media sector. However, specific implementation details and timelines have yet to be announced, and we will continue to monitor subsequent developments in this area.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 4
  • Repost
  • Share
Comment
0/400
FarmHoppervip
· 4h ago
Musk is causing trouble again.
View OriginalReply0
RugDocScientistvip
· 08-14 16:33
It's finally coming!
View OriginalReply0
OffchainOraclevip
· 08-14 16:11
It was already expected.
View OriginalReply0
MeltdownSurvivalistvip
· 08-14 16:08
It's time to pay with coins.
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)