Musk wants to turn X into a digital bank and dating site

American billionaire Elon Musk wants to turn his social network X (Twitter) into a digital bank and even a dating site, such functions could appear there within the next year. About it reports Business Insider cited sources who were at the corporate meeting where Musk spoke.

According to Musk’s plan, X will become a “full-fledged” dating site in 2024, as well as a digital bank. During the meeting, the businessman did not disclose the details of his plan, but regarding dating, he said that the availability of this function will depend on demand. The publication notes that the initiative fits into Musk’s plans to introduce more paid functions, while dating apps themselves usually include a paid subscription.

“He wants people to pay for everything,” the source said, adding that Musk told the meeting that X could get digital banking functionality as early as next year, whether users want it or not.

X is still in the process of obtaining the necessary licenses to provide banking and financial services in every state in the United States. The company currently has such licenses in nine states.

Bloomberg previously wrote that Musk plans to turn X into a competitor to YouTube and LinkedIn, as the company’s employees are now engaged in new business areas in video and recruiting. According to the agency, Musk also has ideas for creating a news service called XWire, which could compete with Cision’s PR Newswire.

Musk closed the deal to purchase Twitter on October 27, 2022 for $44 billion. On July 24, Twitter was renamed X. Innovations also affected the platform logo: instead of a blue bird, it now features the letter X, and the domain has changed to x.com. Posts on Twitter after the rebranding of the social network will be called “Xs” rather than “tweets.”