CoinDesk reported:
Musk has said that he plans for X to expand beyond social media posts, becoming an ‘everything app,’ and the money transmitter licenses obtained since June from Arizona, Maryland, Georgia, Michigan, Missouri and New Hampshire indicate the tech billionaire may have plans to support payment processing nationwide similar to Venmo or PayPal, a company he co-founded. The Rhode Island license, while essential for permitting payments, is also a requirement for offering crypto services.