Twitter has filed paperwork to carry fee processing to the platform, in response to a report by The New York Instances. 

Elon Musk, Twitter’s new CEO, acknowledged the transfer in a livestream with advertisers on Wednesday morning, with the Instances 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 had 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 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’ve got bought a stability in your account. Do you need to ship cash to another person inside Twitter? And perhaps we pre-populate the account,” mentioned Musk, according to the Monetary Instances, including that customers might hyperlink on-line financial institution accounts to Twitter. “Then the subsequent step could 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 supply specifics.

Twitter did not instantly reply to a request for remark. 

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