Overview

• X's new payment service will allow users to store, send, and spend money directly on the platform.
• The company has lost $456 million in the first quarter of 2023, with revenues down significantly from the previous year.
• X Payments is licensed in 28 states and seeks full nationwide approval to launch later this year.
• Plans for international expansion have been paused due to regulatory pushback.
• Musk envisions X becoming a comprehensive financial platform, though it faces significant competition and consumer trust issues.