Musk's social media platform, X, formerly Twitter, has obtained money or currency transmitter licenses in seven U.S. states including Maryland, New Hampshire and Rhode Island.
The U.S. exchange's customers now have the option of buying stablecoin USDT using their debit or credit cards, Apple Pay and Google Pay and converting it into crypto tokens.
The company said the pause is due to the U.K. financial regulator’s upcoming stricter rules, which include the travel rule to combat money laundering set to take effect Sept. 1.
Where most wallets require signing up, performing a degree of KYC checks, Beam users can send payments simply by using a link to a QR code. Thus it is aiming to create the closest possible equivalent to using crypto like cash.
“Elon clearly has an affinity for DOGE, almost as part of a running joke, but I wouldn’t be surprised if he actually went through with enabling payments via DOGE.”
Wallet, which is built on the TON blockchain, is allowing merchants to integrate cryptocurrency into the bots they use to accept payments in the messaging app.