Twitter has filed paperwork to deliver cost processing to the platform, in response to a report by The New York Occasions. 

Elon Musk, Twitter’s new CEO, acknowledged the transfer in a livestream with advertisers on Wednesday morning, with the Occasions reporting that Musk “mentioned a imaginative and prescient for Twitter to course of funds, full with related debit playing cards and financial institution accounts.”

The paperwork have been filed final week with the Treasury Division’s Monetary Crimes Enforcement Community, or FinCEN, in response to the report. 

Musk, who acquired Twitter on Oct. 27 and can also be the co-founder of PayPal, additionally mentioned on Wednesday that Twitter’s new $8 monthly charge for a Twitter Blue subscription will arrange customers to segue into utilizing the platform for funds and sending cash between accounts.

“Now we will say you have acquired a stability in your account. Do you need to ship cash to another person inside Twitter? And possibly we pre-populate the account,” mentioned Musk throughout the livestream, including that customers may hyperlink on-line financial institution accounts to Twitter. “Then the following step can be to supply an especially compelling cash market account to get extraordinarily high-yield in your stability,” he mentioned. “After which add debit playing cards, checks.” Musk did not provide specifics.

Twitter did not instantly reply to a request for remark. 

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