Twitter receives money transmitter licenses in three US states By Cointelegraph

Twitter Funds LLC, a subsidiary of Elon Musk’s Twitter social community, seems to have obtained its first cash transmitter licenses after Michigan, New Hampshire and Missouri permitted the corporate’s purposes.

A cash transmitter license permits an organization to supply switch companies or cost devices. This differs from a license to conduct gross sales in that it’s meant to supply shopper protections for companies that facilitate the transmission of cash from one occasion to a different, not simply the acquisition of services.