Elon Musk Predicts X Will Replace Banks Next Year

Jacob Kastrenakes and Alex Heath, reporting for The Verge:

Elon Musk wants X to be the center of your financial world, handling anything in your life that deals with money. He expects those features to launch by the end of 2024, he told X employees during an all-hands call on Thursday, saying that people will be surprised with “just how powerful it is.”

“When I say payments, I actually mean someone’s entire financial life,” Musk said, according to audio of the meeting obtained by The Verge. “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.”

X CEO Linda Yaccarino said the company sees this becoming a “full opportunity” in 2024. “It would blow my mind if we don’t have that rolled out by the end of next year,” Musk said.

Not a day goes by that I don’t hear from someone who wishes that the entirety of their personal finances were handled by a company with the reputation for reliability of X.

It’s so obvious, and banking systems are so easy, I honestly wouldn’t be surprised if X launches this by April 20, even.

★ Friday, 27 October 2023