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Musk also suggested offering debit cards and checks for transactions at locations that don't accept Twitter Pay. His goal is to get a money transmitter license in Washington
Elon Musk plans to transform Twitter into a more efficient bank than traditional banks, offering services such as high-yield money market accounts, debit cards, checking and loans.
He highlighted the opportunity for transformative payments on the platform, proposing that each verified Twitter user be given a balance to send money within the system, potentially enabling tipping and paywall content payments
He asked state officials to confirm what the committee is trying to do, creating stablecoins to follow the letter of the law. The governor expressed his concern that the legality of state-issued stablecoins is murky under federal law.
The Wyoming Stable Coin Council held its first meeting on Monday. The commission is the first national agency in the United States authorized to issue stablecoins. Governor Mark Gordo, who has remained cautious throughout the process, was in attendance.