After Grayscale’s victory against the US Securities and Exchange Commission (SEC) on August 29, Twitter has acquired the necessary licenses to offer c
rypto payments to its users. This move comes after it allowed the integration of NFTs as profile pictures in January 2022. X, formerly Twitter, receives crypto trading license
Elon Musk's X, previously known as Twitter, has acquired the necessary license for joining the band of crypto payment services providers.
With the platform obtaining the license, crypto trading can now be accessed directly by more than 400 million users of the platform. This would propel crypto adoption significantly, especially since governments across the globe are becoming more accepting of the new form of currency. Elon Musk's association with cryptocurrencies goes back to 2021, when the Twitter owner first endorsedand Dogecoin. Since his acquisition of Twitter and until now, his efforts in transforming the site into a comprehensive financial services platform included the addition of cryptocurrencies as well.
The biggest move before obtaining the crypto trading license was when Twitter integrated NFTs. The integration enabled users to showcase their unique Non-Fungible Tokens as their profile picture through the subscription of Twitter Blue, ushering in significant revenue.
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