Elon Musk said during an all-hands call on Thursday that he wants X to be the center of users' financial lives, handling all things money-related in their lives. He expects the features to be rolled out by the end of 2024 and said people will be "wow" due to its strength." X CEO Linda Yaccarino said the company believes this will be a "full opportunity" in 2024.
Musk said that X will not only provide simple payment functions, but comprehensive financial services so that users do not need a bank account. The company is currently working on obtaining money transfer licenses in various US states in order to provide financial services.
In addition, Musk said that X's transformation is directly related to his goal of turning it into an "everything application", similar to China's WeChat, providing shopping, transportation and other services. (The Verge)